Joel Teitelbaum Acquires Williamsburg Office Building For $23.25M
555 Broadway, New York, NY, USA
$23,250,000
$461/SF
Building Size
50,332 SF
Asset Type
Office
Closing
Dec 13, 2018
AI
A 50,332-square-foot office property located at 555 Broadway in Williamsburg, Brooklyn has been sold for $23,250,000. The sale, which took place on December 14, 2018, was facilitated by brokers Brendan Maddigan and Ethan Stanton from JLL.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $23,250,000
- Address: 555 Broadway
- Market: Williamsburg
- Size: 50,332 square feet
The seller of the property was Blesso Properties, represented by Matt Blesso. The buyer, on the other hand, was Joel Teitelbaum. The transaction was successfully completed with the assistance of Brendan Maddigan and Ethan Stanton from JLL, who acted as the brokers in the deal.
Players
Hastings On Hudson 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
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93