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Jason Barnett Acquires All Parking Garages In Red Hook, Brooklyn For $19.5M

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SOLD
$19,525,542

New York

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Other17,357 SF
Sold 12/17/2021
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SOLD

Jason Barnett Acquires All Parking Garages In Red Hook, Brooklyn For $19.5M

726 Court Street, Brooklyn, New York 11231, United States

See Similar Deals
Other17,357 SF
Sold 12/17/2021
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Summary

NEW YORK
Asset Type:Other
Price Per Square Foot:$1,124
Total Square Footage:17,357 SF
Transaction Type:Sale

The property asset involved in this transaction is a collection of all parking garages (G1) in Red Hook, Brooklyn. The address of the property is 726 & 730 Court Street, 139 Bryant Street & Gowanus Canal. The total square footage of the property is 17,357 square feet. The transaction took place on December 17, 2021, with a sale price of $19,525,542.00, resulting in a price per square foot of $1,124.94. The previous sale of the property occurred on November 12, 2013, with a sale price of $15,500,000.00.

Summary of transaction details

  • Property Type: All Parking Garages (G1) (Multi Use)
  • Transaction Amount: $19,525,542.00
  • Address: 726 & 730 Court Street, 139 Bryant Street & Gowanus Canal
  • Total Square Footage: 17,357 SF
  • Price per Square Foot: $1,124.94
  • Last Sale Price: $15,500,000.00
  • Last Sale Date: November 12, 2013

In this transaction, the buyer was Jason Barnett and the seller was Robert A Malecky. Jason Barnett represented himself in the deal, while Robert A Malecky was not represented by any broker.

Players

JB
3 deals$224.5M volume
BUYER

2 deals$123M volume
SELLER

Details

SOLD
IMAGE: 12/17/2021 ADDRESS: 726 & 730 Court Street, 139 Bryant Street & Gowanus Canal MARKET: Red Hook, Brooklyn ASSET TYPE: All Parking Garages ( G1 ) (Multi Use) BUYER: Jason Barnett SELLER: Robert A Malecky PRICE: $19,525,542.00 SF: 17,357 ~ PPSF: $1,124.94 LAST SALE PRICE: $15,500,000.00 LAST SALE DATE: 11/12/2013

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,041,362.22

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$69,370.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,561.03
Annual Debt Service$1,110,732.37