Barone Management Acquires Industrial Property In Elmhurst For $22M

An industrial property located at 80-52 47th Avenue in Elmhurst has been sold for a total price of $22,000,000. The asset spans 41,320 square feet, with a price per square foot of $532. The transaction was financed with a loan of $40,000,000 from Metropolitan Commercial Bank.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $22,000,000
• Loan Amount: $40,000,000
• Square Footage: 41,320
• Price Per Square Foot: $532
• Buyer: Barone Management - John Silviano
• Seller: Catherine Phyllis Cronin
• Market: Elmhurst

The transaction involved Barone Management, represented by John Silviano, who acted on behalf of the buyer. The seller of the property was Catherine Phyllis Cronin. This sale reflects the dynamics of the industrial property market in the specified locality.