Astral Weeks Acquires Retail Property On Franklin Street, Greenpoint For $23M
12 Franklin Street
$23,000,000
$760/SF
Building Size
30,260 SF
Asset Type
Retail
Closing
Oct 27, 2023
About this deal
AI
The property involved in this transaction is a retail asset located at 12 Franklin Street in the Greenpoint market. The sale price for this property was $23,000,000, with a total square footage of 30,260. The price per square foot for this transaction was $760.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $23,000,000
- Market: Greenpoint
- Square Footage: 30,260
Astral Weeks acted as the buyer in this transaction, while Jonathan Simon was the seller. The brokers involved in this deal were Stephen R. Preuss Sr., Kevin Schmitz, Andreas Efthymiou, and Kevin Louie, represented by Kevin.Loue_investment_sales of Ripco.
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
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93