The Rivington Company Acquires Residential Conversion At 185 Marcy Avenue For $28.7M
185 Marcy Avenue
$28,700,000
$352/SF
Building Size
81,348 SF
Asset Type
Office
Closing
Apr 2, 2025
About this deal
AI
The property asset involved in this transaction is a residential conversion located at 185 Marcy Avenue in Brooklyn. The sale price was $28,700,000 for a total square footage of 81,348, resulting in a price per square foot of $352.
Summary of transaction details:
- Property Type: Residential Conversion
- Transaction Amount: $28,700,000
- Address: 185 Marcy Avenue
- Market: Brooklyn
- Square Footage: 81,348
- Price Per Square Foot: $352
- Buyer: The Rivington Company
- Seller: One William Street
- Brokers: Ethan Stanton, Brendan Maddigan, Jay Leshinsky & Michael Mazzara - JLL
Key individuals involved in this transaction include The Rivington Company as the buyer and One William Street as the seller. The transaction was facilitated by brokers Ethan Stanton, Brendan Maddigan, Jay Leshinsky, and Michael Mazzara from JLL, who represented the parties in this deal.
On the Map
$28,700,000
$352/SF
Office
View full map
Players
Brooklyn Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Deal FAQ
About $352 per square foot on a published $28.7M for 81,348 square feet (2025).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93