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Sciame Development Acquires Office In Brooklyn From Richard Bart Realty For $26.7M

Property Image
SOLD
$26,700,000
Sydney Blumstein
Michael (Mike) Hernandez
Melissa Warren

New York

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Office160,000 SF
Sold 05/11/2015
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Property Image
SOLD

Sciame Development Acquires Office In Brooklyn From Richard Bart Realty For $26.7M

325 Johnson Ave, Brooklyn, NY, 11206

See Similar Deals
Office160,000 SF
Sold 05/11/2015
Sydney Blumstein
Michael (Mike) Hernandez
Melissa Warren
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$166
Total Square Footage:160,000 SF
Transaction Type:Sale

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:

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

Michael (Mike) Hernandez
Terra CRG
Michael Hernandez
4 deals$76.2M volume(718) 489-8333
BROKER
Sydney Blumstein
The Corcoran Group
Sydney Blumstein
3 deals$43.3M volume
BROKER
Melissa Warren
Terra CRG
Melissa Warren
2 deals$66.2M volume
BROKER
R
Realty
SELLER

Details

SOLD
IMAGE: 05/11/2015 ADDRESS: 325 Johnson Ave, Brooklyn, NY, 11206 MARKET: Brooklyn ASSET TYPE: Office BUYER'S REP: Melissa Warren-Terra CRG, Michael Hernandez-Terra CRG SELLER'S REP: Sydney Blumstein-The Corcoran Group BUYER: Sciame Development SELLER: Richard Bart Realty Seller PRICE: $26,700,000.00 SF: 160000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,423,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$94,859.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$126,571.62
Annual Debt Service$1,518,859.46