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.
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
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93