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Nathan Evelkin Acquires 18,910 SF Industrial Property In Greenpoint, NYC For $6M

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SOLD
$6,000,000

New York

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MultiFamily18,910 SF
Sold 01/13/2023
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Property Image
SOLD

Nathan Evelkin Acquires 18,910 SF Industrial Property In Greenpoint, NYC For $6M

270 Freeman Street

See Similar Deals
MultiFamily18,910 SF
Sold 01/13/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$317
Total Square Footage:18,910 SF
Transaction Type:Sale

The industrial property located at 270 Freeman Street in Greenpoint, New York City has been sold in a closed transaction. The property spans approximately 18,910 square feet and was sold for a price of $6,000,000, resulting in a price per square foot of $317. The transaction took place on January 13, 2023.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $6,000,000
  • Square Footage: 18,910
  • Address: 270 Freeman Street, Greenpoint, New York City
  • Market: Greenpoint, New York City

The buyer of the property is Nathan Evelkin, while the seller is Richard Leiter. DY Realty Group's Nikita Sigelakis represented both parties as the broker in this transaction.

Players

Nikita sigelakis
DY Realty Group
Nikita sigelakis
1 deal$6M volume
BROKER

Details

SOLD
IMAGE: Nikita Sigelakis DATE: 01/13/2023 ADDRESS: 270 Freeman Street MARKET: Greenpoint, New York City ASSET TYPE: Industrial BUYER: Nathan Evelkin SELLER: Richard Leiter BROKER: Nikita Sigelakis - DY Realty Group SALE PRICE: $6,000,000 SF: 18,910 ~ PPSF: $317

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$319,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$21,316.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,443.06
Annual Debt Service$341,316.73