Slate Property Group Acquires Special Purpose Asset In Fort Greene For $8.85M
SOLD
$8,850,000
Western Cape
See Similar DealsSpecial Purpose65,501 SF
Sold 11/02/2020
SOLD
Slate Property Group Acquires Special Purpose Asset In Fort Greene For $8.85M
108 St. Edward Street
See Similar DealsSpecial Purpose65,501 SF
Sold 11/02/2020
Summary
Asset Type:Special Purpose
Price Per Square Foot:$135
Total Square Footage:65,501 SF
Transaction Type:Sale
The special purpose property located at 108 St. Edward Street in Fort Greene has been sold for a total price of $8,850,000. The property spans across 65,501 square feet, resulting in a price per square foot of $135. The transaction took place on 11/03/2022.
Summary of transaction details
- Property Type: Special Purpose
- Transaction Amount: $8,850,000
- Address: 108 St. Edward Street, Fort Greene
- Market: Fort Greene
The buyer of the property is Slate Property Group, and the seller is the Diocese of Brooklyn. The deal was facilitated by the brokers Dan O'Brien, Frank Liantonio, and Caroline Hodes from Cushman & Wakefield. Their roles were to represent the buyer and seller in the transaction.
Players
BUYER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$472,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,442.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,953.52
Annual Debt Service$503,442.18
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