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
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