Heitman Capital Management Acquires Office Building In Williamsburg For $45.97M
SOLD
$45,970,879
New York
See Similar DealsOffice63,033 SF
Sold 07/05/2022
SOLD
Heitman Capital Management Acquires Office Building In Williamsburg For $45.97M
109 South 5th Street, Brooklyn, New York 11249, United States
See Similar DealsOffice63,033 SF
Sold 07/05/2022
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$729
Total Square Footage:63,033 SF
Transaction Type:Sale
The office building located at 109 South 5th Street in Williamsburg has been sold in a transaction between Heitman Capital Management and Meadow Partners. The sale price for this property was $45,970,879, and it offers a total square footage of 63,033. This equates to a price per square foot of $729.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $45,970,879
- Address: 109 South 5th Street
- Market: Williamsburg
- Square Footage: 63,033
- Price Per Square Foot: $729
Maury R. Tognarelli & Jeffrey Kaplan represented the property in the sale as the seller's representatives. No additional information is available about the individuals or companies involved in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,451,780.21
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$163,324.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$217,925.42
Annual Debt Service$2,615,105.04
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