Updated Oct 29, 2024
TIAA-CREF And Metropolitan Realty Associates Acquire Industrial Property In Queens For $55 Million
48 49 35th St, Long Island City, Ny 11101, Usa
Building Size
103,034 SF
Asset Type
Industrial
Closing
Feb 1, 2017
About this deal
AI
The industrial property located at 48-49 35th St in Queens was sold in February 2017. The property, situated in the NYC Boroughs market, was purchased for a price of $55 million. The transaction involved Matsil Bros Inc as the seller and TIAA-CREF, Metropolitan Realty Associates as the buyers.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $55 Million
- Address: 48-49 35th St
- Market: NYC Boroughs
TIAA-CREF, Metropolitan Realty Associates made the acquisition through this significant deal as the buyers. Matsil Bros Inc acted as the seller.
Players
Long Island City Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93