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11-02 37th Avenue

Cushman & Wakefield Sells Industrial Property In Long Island City For $4.6M
SOLDIndustrial

Cushman & Wakefield Sells Industrial Property In Long Island City For $4.6M

11-02 37th Avenue

$4,600,000

$306/SF

Building Size

15,000 SF

Asset Type

Industrial

Closing

Apr 11, 2023

AI

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.

Players

Evan Daniel

Modern Spaces

Broker

$347.5M

vol

65 deals

Broker

Market Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.45%

Cash-on-Cash

-0.99%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93