Prosper Property Group Acquires Office Building At 57 Willoughby Street Brooklyn For $48M
SOLD
$50,000,000
+ 1
New York
See Similar DealsOffice125,000 SF
Sold
SOLD
Prosper Property Group Acquires Office Building At 57 Willoughby Street Brooklyn For $48M
57 Willoughby Street
See Similar DealsOffice125,000 SF
Sold
+ 1
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$400
Total Square Footage:125,000 SF
Transaction Type:Sale
The asset involved in this transaction is an office property located at 57 Willoughby Street in Brooklyn. The transaction was executed for a sale price of $48,000,000, encompassing 125,000 square feet, which translates to a price per square foot of $384.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $48,000,000
- Address: 57 Willoughby Street
- Market: Brooklyn
- Square Footage: 125,000
- Price per Square Foot: $384
- Buyer: Prosper Property Group
- Brokers: Andrew Scandalios, David Giancola, Ethan Stanton & Jennifer Zelko - JLL
The transaction was represented by a team of brokers from JLL, consisting of Andrew Scandalios, David Giancola, Ethan Stanton, and Jennifer Zelko, who facilitated the deal for the buyer, Prosper Property Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,666,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$177,639.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$237,025.51
Annual Debt Service$2,844,306.11
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