Amherst Sells Retail Space At 1 Hanson Place In Downtown Brooklyn For $10 Million
1 Hanson Place
$10,000,000
$241/SF
Building Size
41,400 SF
Asset Type
Retail
Closing
Oct 31, 2024
AI
The property asset involved in this transaction is a retail space located at 1 Hanson Place in Downtown Brooklyn. It covers a total of 41,400 square feet and was sold for a price of $10,000,000, resulting in a price per square foot of $241.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $10,000,000
- Square Footage: 41,400
- Price Per Square Foot: $241
- Address: 1 Hanson Place
- Market: Downtown Brooklyn
- Seller: Amherst
- Brokers: Daniel O'Brien, Caroline Hodes & Robbie Ferman - Newmark
The key individuals involved in this deal include Daniel O'Brien, Caroline Hodes, and Robbie Ferman, who represented the seller, Amherst, during the transaction. Their involvement reflects a collaborative effort with Newmark in facilitating the sale of the retail property.
Players
Brooklyn Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93