SNL Storage Acquires Property In Brooklyn For $6.5M With Seller's Rep Junji Miyake
145 18th St, Brooklyn, NY, 11215
$6,500,000
$392/SF
Building Size
16,577 SF
Asset Type
Warehouse
Closing
Nov 20, 2023
About this deal
AI
The property at 145 18th Street, located in Brooklyn, NY, has been sold for $6,500,000.00. This brick warehouse measures 16,577 square feet and is situated in Brooklyn's Greenwood Heights neighborhood. According to local zoning regulations, the property allows for 33,154 buildable square feet of commercial development.
Summary of transaction details:
- Property Type: Warehouse
- Transaction Amount: $6,500,000.00
- Address: 145 18th St, Brooklyn, NY, 11215
- Market: Brooklyn
- Square Footage: 16,577 SF
- Buyer: SNL Storage
- Seller: Adel Rootstein USA
- Seller's Representative: Junji Miyake (Cushman & Wakefield)
In this transaction, Cushman & Wakefield represented the seller, with Junji Miyake, Winfield Clifford, and William Barrett involved in facilitating the deal. The buyer, SNL Storage, now owns the property, which is near various retailers, including Costco, Home Depot, and Lowe’s.
On the Map
$6,500,000
$392/SF
Warehouse
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Players
Brooklyn Warehouse Market Snapshot
Boundary boundary · Warehouse · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93