Bridges Development Group Acquires Retail Asset At 1630 East 15th Street For $31M
1630 East 15th Street
$31,000,000
$135/SF
Building Size
228,615 SF
Asset Type
Retail
Closing
Jul 13, 2026
About this deal
AI
The property asset involved in this transaction is a retail space located at 1630 East 15th Street in Brooklyn. The sale price was $31,000,000, with a total square footage of 131,513, resulting in a price per square foot of $236.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $31,000,000
- Address: 1630 East 15th Street
- Market: Brooklyn
- Square Footage: 131,513
- Price per Square Foot: $236
- Buyer: Bridges Development Group
- Brokers: Ethan Stanton, Michael Mazzara & Brendan Maddigan - JLL
The transaction was facilitated by brokers Ethan Stanton, Michael Mazzara, and Brendan Maddigan from JLL, representing Bridges Development Group in the purchase of this retail property.
On the Map
$31,000,000
$135/SF
Retail
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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
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93