5918 13 Ave LLC Acquires Office Building From Kenneth D. Gibbs For $5M In Borough Park
5918 13th Avenue
$5,000,000
$500/SF
Building Size
10,000 SF
Asset Type
Office
Closing
Mar 24, 2026
About this deal
AI
An office building located at 5918 13th Avenue in Borough Park, Brooklyn has been sold. The property encompasses 10,000 square feet and was transferred for a total sale price of $5,000,000, establishing a value of $500 per square foot.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $5,000,000
- Buyer: 5918 13 Ave LLC
- Seller: Kenneth D. Gibbs - Maimonides Medical Center
- Square Footage: 10,000
- Price Per Square Foot: $500
- Market Area: Borough Park, Brooklyn
The transaction was facilitated by Kenneth D. Gibbs representing Maimonides Medical Center in the sale of the commercial asset to the private LLC. This transfer represents a noteworthy transaction involving a significant property under the ownership of a healthcare provider.
Players
Brooklyn 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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93