United American Land Acquires Office At 80 Willoughby Street In Downtown Brooklyn From Sisters Of St. Joseph For $23.3M
SOLD
$23,250,000
New York
See Similar DealsOffice6,250 SF
Sold 02/25/2021
SOLD
United American Land Acquires Office At 80 Willoughby Street In Downtown Brooklyn From Sisters Of St. Joseph For $23.3M
80 Willoughby Street, Downtown Brooklyn, Brooklyn, NY, USA
See Similar DealsOffice6,250 SF
Sold 02/25/2021
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$3,720
Total Square Footage:6,250 SF
Transaction Type:Sale
United American Land has acquired an office property located at 80 Willoughby Street in Downtown Brooklyn. The property, totaling 60,500 square feet, was sold by Sisters of St. Joseph for a price of $23,250,000, resulting in a price per square foot of $384.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $23,250,000
- Address: 80 Willoughby Street
- Market: Downtown Brooklyn
The deal was facilitated by JLL, with Andrew Scandalios, Steven Rutman, Jeff Julien, Rob Hinckley, and Brendan Maddigan representing both the buyer, United American Land, and the seller, Sisters of St. Joseph.
Players
BUYER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,240,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$82,602.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$110,216.86
Annual Debt Service$1,322,602.34
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