Sandy Stillman Acquires Mixed-Use Buildings In Red Hook From Lee Cohen For $7.05M
93 Verona Street & 385 Van Brunt Street
$7,050,000
Building Size
—
Asset Type
Mixed-use
Closing
Sep 3, 2025
AI
The transaction involves a mixed-use property located at 93 Verona Street & 385 Van Brunt Street in the Red Hook area of Brooklyn. The buyer, Sandy Stillman, has acquired the asset for a total price of $7,050,000. This deal consists of three buildings purchased from RedHoek Partners.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $7,050,000
- Buyer: Sandy Stillman
- Seller: Lee Cohen - RedHoek Partners
- Transaction Date: 09/03/2025
This transaction saw Sandy Stillman making a significant investment in Red Hook, with Lee Cohen representing RedHoek Partners in the sale of the properties across two deals. The deal represents an important shift in property ownership in the Brooklyn area.
Players
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.25%
Cash-on-Cash
-0.64%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93