Cushman & Wakefield Sells Industrial Property In Long Island City For $4.6M
SOLD
$4,600,000
National
See Similar DealsIndustrial15,000 SF
Sold 04/11/2023
SOLD
Cushman & Wakefield Sells Industrial Property In Long Island City For $4.6M
11-02 37th Avenue
See Similar DealsIndustrial15,000 SF
Sold 04/11/2023
Summary
Asset Type:Industrial
Price Per Square Foot:$306
Total Square Footage:15,000 SF
Transaction Type:Sale
An industrial property located at 11-02 37th Avenue in Long Island City has been sold for $4,600,000. The property spans 15,000 square feet and has a price per square foot of $307. The transaction took place on April 11, 2023.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $4,600,000
- Address: 11-02 37th Avenue, Long Island City
- Market: Long Island City
- Square Footage: 15,000
- Price Per Square Foot: $307
The seller's representative for this transaction was Joseph Grotto from Cushman & Wakefield, while the buyer's representative was Evan Daniel from Modern Spaces.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$245,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,342.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,806.35
Annual Debt Service$261,676.16
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