Meadow Partners Acquires Helen Keller HQ Office Building In Brooklyn For $54M
57 Willoughby St, Brooklyn, NY 11201, USA
Building Size
16,525 SF
Asset Type
Office
Closing
Dec 26, 2016
About this deal
AI
The office property located at 57 Willoughby St in Brooklyn, New York was sold in a closed transaction on December 27, 2016. The property, also known as Hellen Keller HQ, was purchased by Meadow Partners from the seller, Helen Keller Services for the Blind, at a price of $54,000,000.00. With a price per square foot of $559, this transaction reflects the value of the property in the Brooklyn market.
Summary of transation details
- Property Type: Office
- Transaction Amount: $54,000,000.00
- Address: 57 Willoughby St AKA Hellen Keller HQ
- City: New York
- Market: Brooklyn
Meadow Partners, represented by their broker, was the buyer in this transaction. The seller, Helen Keller Services for the Blind, was represented by their broker. The deal demonstrates the active interest in the Brooklyn office market, with this particular property attracting significant attention and selling at a value of $559 per square foot.
Players
New York 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93