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Ecorise Development Acquires Office Building In Downtown Brooklyn For $10.5M

Property Image
SOLD
$10,500,000
Jiani Zhou
David Khukhashvili
+ 2

New York

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Office126,810 SF
Sold 01/16/2020
the dealplayerscompscontact
Property Image
SOLD

Ecorise Development Acquires Office Building In Downtown Brooklyn For $10.5M

100 Livingston St, Brooklyn, NY 11201, USA

See Similar Deals
Office126,810 SF
Sold 01/16/2020
Jiani Zhou
David Khukhashvili
+ 2
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$82
Total Square Footage:126,810 SF
Transaction Type:Sale

The recently closed property transaction in Downtown Brooklyn involved an office asset located at 100 Livingston Street. The property spans an area of 12,681 square feet, with a price tag of $10,500,000 and a price per square foot of $828.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $10,500,000
  • Address: 100 Livingston Street
  • Market: Downtown Brooklyn
  • Seller: ACHS Management – Alex Adjmi
  • Buyer: Ecorise Development – Francois Barthelemy
  • Brokers: Ariel Property Advisors - Sean R. Kelly, Esq, David Khukhashvili, and Jiani Zhou

The seller in this deal was ACHS Management, represented by Alex Adjmi, while the buyer was Ecorise Development, represented by Francois Barthelemy. The brokers who facilitated the transaction were Sean R. Kelly, Esq, David Khukhashvili, and Jiani Zhou from Ariel Property Advisors.

Players

David Khukhashvili
10 deals$65.1M volume(212) 544-9500
BROKER

Jiani Zhou
Ariel Property Advisors
9 deals$46.8M volume
BROKER

Sean R. Kelly, Esq.
Ariel Property Advisors
56 deals$529.8M volume
BROKER


BUYER

Alex Adjmi
19 deals$100.6M volume
SELLER

Details

SOLD
IMAGE: Sean R. Kelly, David Khukhashvili & Jiani Zhou (@J.Zhouu) DATE: 01/16/2020 ADDRESS: 100 Livingston Street MARKET: Downtown Brooklyn ASSET TYPE: Office SALE PRICE: $10,500,000 SF: 12,681 PPSF: $828 SELLER: ACHS Management – Alex Adjmi BUYER: Ecorise Development – Francois Barthelemy BROKERS: Ariel Property Advisors- Sean R. Kelly, Esq, David Khukhashvili, & Jiani Zhou

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

$559,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$37,304.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$49,775.36
Annual Debt Service$597,304.28