City Of New York Acquires Fort Greene Cultural Unit For $6.5M
300 Ashland Pl, Brooklyn, NY 11217, USA
$6,500,000
$130/SF
Building Size
49,830 SF
Asset Type
Other
Closing
Dec 3, 2019
About this deal
AI
The City of New York has purchased a "Cultural Unit" / Community Facility in Fort Greene for a price of $6,500,000. The property, located at 300 Ashland Place, features lower floors with 50,000 square feet of cultural space.
Summary of transaction details
- Property Type: "Cultural Unit" / Community Facility
- Transaction Amount: $6,500,000
- Address: 300 Ashland Place
- Market: Fort Greene
The buyer of the property is the City of New York, while the seller is Two Trees NY. The lower floors of the building contain 50,000 square feet of cultural space, with occupancy details unknown at the moment.
On the Map
$6,500,000
$130/SF
Other
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93