Ramrock Real Estate Acquires Office Property In Bushwick, New York For $81.29M
SOLD
$81,290,000
+ 2
New York
See Similar DealsOffice1,581,500 SF
Sold 04/10/2018
SOLD
Ramrock Real Estate Acquires Office Property In Bushwick, New York For $81.29M
95 Evergreen Ave, Brooklyn, NY 11206, USA
See Similar DealsOffice1,581,500 SF
Sold 04/10/2018
+ 2
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$51
Total Square Footage:1,581,500 SF
Transaction Type:Sale
The office building located at 95 Evergreen Avenue in New York's Bushwick neighborhood has been sold in a closed transaction. The property, which consists of the land underneath and spans approximately 158,150 square feet, was sold at a price of $81,290,000. The sale price equates to a price per square foot of $514.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $81,290,000
- Square Footage: 158,150
- Price per Square Foot: $514
The seller of the property was Savanna, represented by Chris Schlank and Daren Hornig. The buyer of the property is Ramrock Real Estate.
The transaction was facilitated by brokers Adam Spies, Adam Doneger, and Joshua King.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,335,466.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$288,806.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$385,356.07
Annual Debt Service$4,624,272.87
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