Capstone Acquires Office Asset At 141 Willoughby Street In Brooklyn From PIMCO For $135M
141 Willoughby Street
$107,000,000
$278/SF
Building Size
384,736 SF
Asset Type
Office
Closing
Feb 17, 2025
AI
The asset involved in this transaction is an office property located at 141 Willoughby Street, Brooklyn. The sale price was $135,000,000, encompassing a total square footage of 384,736, which translates to a price per square foot of $351.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $135,000,000
- Address: 141 Willoughby Street
- Market: Brooklyn
- Square Footage: 384,736
- Price Per Square Foot: $351
- Buyer: Capstone
- Seller: PIMCO
- Brokers: Gary Phillips, Will Silverman, Rob Turner, Grant Frankel & Jeff Organisciak - Eastdil Secured
This deal involved key brokerage representatives from Eastdil Secured, including Gary Phillips, Will Silverman, Rob Turner, Grant Frankel, and Jeff Organisciak, who facilitated the transaction between Capstone and PIMCO.
Players
Brooklyn Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93