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726 Court Street, Brooklyn,...

Updated Oct 25, 2024

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

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

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

$19,525,542

$1,124/SF

Building Size

17,357 SF

Asset Type

Other

Closing

Dec 16, 2021

About this deal

AI

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

Jason Barnett

RXR Realty

Buyer

$224.5M

vol

3 deals

Buyer

Robert A Malecky

Seller

$123M

vol

2 deals

Seller

New York Other Market Snapshot

Boundary boundary · Other · Sale transactions

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Deal FAQ

About $1.1K per square foot on a published $19.5M for 17,357 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.81%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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