Caspi Development Acquires Brooklyn Office Building For $18.9M
134 Broadway #136, Brooklyn, NY 11249, USA
Building Size
230,000 SF
Asset Type
Office
Closing
May 16, 2018
About this deal
AI
The office building located at 134-136 Broadway (also known as 402-410 Bedford Avenue) in Brooklyn, New York has been sold for $18,850,000. The property spans 23,000 square feet, resulting in a price per square foot of $819.
Summary of transaction details
- Property Type: Office Building
- Transaction Amount: $18,850,000
- Square Footage: 23,000 sf
- Price Per Square Foot: $819
- Address: 134-136 Broadway (AKA 402-410 Bedford Avenue), Brooklyn, New York
The seller of the property was David Ekstein. On the other hand, Caspi Development, represented by Josh Caspi and Mactaggart Family & Partners LP, served as the buyer. The deal was facilitated by The Manhattes Group, with Michael acting as the broker.
Players
Brooklyn Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93