Sciame Development Acquires Office In Brooklyn From Richard Bart Realty For $26.7M
325 Johnson Ave, Brooklyn, NY, 11206
$26,700,000
$166/SF
Building Size
160,000 SF
Asset Type
Office
Closing
May 11, 2015
About this deal
AI
This office asset is located at 325 Johnson Ave, Brooklyn, NY, 11206, and encompasses a total square footage of 160,000. The transaction was recorded at a price of $26,700,000.00 in the Brooklyn market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $26,700,000.00
- Address: 325 Johnson Ave, Brooklyn, NY, 11206
- Square Footage: 160,000
- Buyer: Sciame Development
- Seller: Richard Bart Realty
- Buyer’s Representatives: Melissa Warren-Terra CRG, Michael Hernandez-Terra CRG
- Seller’s Representative: Sydney Blumstein-The Corcoran Group
In this transaction, Sciame Development acted as the buyer, while Richard Bart Realty represented the seller. The brokerage firms involved included Terra CRG, which represented the buyer, and The Corcoran Group, representing the seller in this 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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93