Brooklyn Friends School Acquires Office Building On 383 Pearl Street For $19.25M
383 Pearl Street
$19,250,000
$705/SF
Building Size
27,275 SF
Asset Type
Office
Closing
Feb 28, 2024
AI
The office located at 383 Pearl Street in Brooklyn was sold for $19,250,000. The property spans 27,274 square feet, amounting to a price per square foot of $706.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $19,250,000
- Address: 383 Pearl Street
- Market: Brooklyn
Brian Leary & Jidan Kim from Bridge Property Advisor represented the buyer, Brooklyn Friends School, in the transaction. On the seller's side, Thomas Gammino, Ben Tapper, Sean Slattery, and Patrick Donahue from Lee & Associates facilitated the sale on behalf of Aleksanndr Shchegol.
Players
Brooklyn Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.82%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93