Edward J. Minskoff Equities Inc Acquires Brooklyn Property At 167 Plymouth St For $61.5M
167 Plymouth St, New York, NY, 11201
$61,500,000
Building Size
—
Asset Type
Office
Closing
Nov 19, 2023
About this deal
AI
The development site is located at 29 Jay St, Dumbo, Brooklyn, NY. The purchase price for the site was $61,500,000. At the time of sale, the site housed a 21,000-square-foot industrial building and offers a maximum development potential of more than 200,000 square feet, which can be zoned for residential or commercial construction.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $61,500,000
- Address: 29 Jay St, Dumbo, Brooklyn, NY
- Seller's Representative: Robert (Bob) Knakal, Brendan Maddigan, Stephen Palmese - JLL
- Buyer: Edward J. Minskoff Equities Inc
- Market: Brooklyn
JLL represented the seller, the Forman Group, in this transaction. The brokerage team also procured the buyer, Edward J. Minskoff Equities Inc, facilitating the successful deal.
On the Map
$61,500,000
Office
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Players
Brooklyn Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93