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14 53rd Street

Updated Sep 9, 2024

SOLDOffice

$89.5M Sunset Park Office Sale At 14 53rd Street - Rosewood Realty Group & Northgate Real Estate Group

14 53rd Street

$89,500,000

$234/SF

Building Size

382,080 SF

Asset Type

Office

Closing

Aug 9, 2023

About this deal

AI

The property involved in this transaction is an office located at 14 53rd Street in Sunset Park, Brooklyn. The sale price for this property was $89,500,000, with a total square footage of 382,080. The price per square foot was $234. This transaction was a UCC foreclosure sale, specifically involving membership interests. The sale price reflects the outstanding balance.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $89,500,000
  • Address: 14 53rd Street, Brooklyn
  • Market: Sunset Park
  • Square Footage: 382,080
  • Price Per Square Foot: $234

This deal was facilitated by two brokers. Aaron Jungreis from Rosewood Realty Group and Greg Corbin from Northgate Real Estate Group represented the parties involved in this transaction. They played a crucial role in bringing this deal to a successful closure.

Players

Aaron Jungreis

Rosewood Realty Group

Broker

$4.4B

vol

214 deals

Broker

Market Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $234 per square foot on a published $89.5M for 382,080 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.18%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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