Gazit-Globe Acquires Retail Condo In Brooklyn For $47.3M
34 N 7th St, Brooklyn, NY 11249, USA
Building Size
60,000 SF
Asset Type
Retail
Closing
Jul 15, 2018
About this deal
AI
The Edge (North) is a retail condo located at 34 North 7th Street in the city of New York, specifically in the Brooklyn market. This property, spanning 60,000 square feet, was recently sold for a price of $47,300,000, resulting in a price per square foot of $788.
Summary of transation details
- Property Type: Retail Condo
- Transaction Amount: $47,300,000
- SF: 60,000
- PPSF: $788
- Address: 34 North 7th Street, New York
- Market: Brooklyn
Gazit-Globe, led by their CEO Jeff Mooallem, acted as the buyer in this transaction. Madison Marquette was the seller in this deal.
On the Map
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93