Seavest Investment Group Acquires Office In Homecrest From Marx Development Group
902 Quentin Road, Brooklyn, NY, USA
$53,750,000
$477/SF
Building Size
112,684 SF
Asset Type
Other
Closing
Jun 9, 2020
About this deal
AI
Seavest Investment Group has acquired an office building located at 902 Quentin Road in the Homecrest neighborhood. The property spans 112,633 square feet and was sold by Marx Development Group for a total price of $53,750,000. This equates to a price per square foot of $477.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $53,750,000
- Address: 902 Quentin Road
- Market: Homecrest
The deal was facilitated by Douglas Ray, David Marx, and Richard Segal. Seavest Investment Group acted as the buyer, while Marx Development Group served as the seller in this transaction.
On the Map
$53,750,000
$477/SF
Other
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Players
Brooklyn Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.30%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93