Transition Acquisitions Acquires Office Property In Bushwick, Brooklyn For $44M
SOLD
$44,000,000
+ 4
New York
See Similar DealsOffice1,050,000 SF
Sold 06/16/2020
SOLD
Transition Acquisitions Acquires Office Property In Bushwick, Brooklyn For $44M
1300 Flushing Ave, Brooklyn, NY 11237, USA
See Similar DealsOffice1,050,000 SF
Sold 06/16/2020
+ 4
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$41
Total Square Footage:1,050,000 SF
Transaction Type:Sale
The property involved in this transaction is an office located at 1300 Flushing Ave in Bushwick, Brooklyn. The sale took place on June 16, 2020, with a total transaction amount of $44,000,000. The property spans 105,000 square feet, resulting in a price per square foot of $419.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $44,000,000
- Address: 1300 Flushing Ave
- Market: Bushwick, Brooklyn
The seller in this deal was Alcion Ventures, represented by Eugene DelFavero. The buyer was Transition Acquisitions, represented by Mordechai Getz. The brokers involved in the transaction were Adam Spies, Dan OBrien, Kevin Donner, and Adam Doneger.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$156,322.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$208,582.45
Annual Debt Service$2,502,989.37
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