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Kushner Companies Acquires 121 Pearl Street Brooklyn For $50.58M From Invesco Real Estate

Property Image
SOLD
$50,580,000
David Fowler
Graham Stephens

New York

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Office81,760 SF
the dealplayerscompscontact
Property Image
SOLD

Kushner Companies Acquires 121 Pearl Street Brooklyn For $50.58M From Invesco Real Estate

121 Pearl Street, Brooklyn, NY, 11201

See Similar Deals
Office81,760 SF
David Fowler
Graham Stephens
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$618
Total Square Footage:81760 SF
Transaction Type:Sale

The property asset involved in this transaction is located at 121 Pearl Street, Brooklyn, NY, 11201. The transaction reflects a total price of $50,580,000.00 for a property with a square footage of 81,760. This real estate transaction takes place in the Brooklyn market.

Summary of transation details:

  • Property Type: Sale
  • Transaction Amount: $50,580,000.00
  • Address: 121 Pearl Street, Brooklyn, NY, 11201
  • Market: Brooklyn
  • Seller: Invesco Real Estate
  • Buyer: Kushner Companies
  • Seller's Representative: David Fowler - Remax, Graham Stephens

The deal involves key players in the real estate sector, with Invesco Real Estate as the seller and Kushner Companies as the buyer. The representatives facilitating the seller’s side are David Fowler from Remax and Graham Stephens, contributing to the successful closure of this transaction.

Players

Graham Stephens
Graham Stephens
10 deals$2.7B volume
BROKER
David Fowler
Re/Max
David Fowler
7 deals$687.4M volume
BROKER
Kushner Companies
Kushner Companies
BROKERAGE
Kushner Companies
Kushner Companies
BUYER
Invesco Real Estate
Invesco Real Estate
SELLER
Invesco Real Estate
Invesco Real Estate
LENDER

Details

SOLD
IMAGE: 121 Pearl Street, Brooklyn, NY, 11201 MARKET: Brooklyn SELLER'S REP: David Fowler -Remax, Graham Stephens BUYER: Kushner Companies SELLER: Invesco Real Estate PRICE: $50,580,000.00 SF: 81760

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

$2,697,600.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$179,700.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$239,775.00
Annual Debt Service$2,877,300.06