Longpoint Partners Acquires Industrial Property From Ken & Steve Dietz For $6.75M
490 Hillside Avenue
$6,750,000
$204/SF
Building Size
33,000 SF
Asset Type
Industrial
Closing
Feb 25, 2025
AI
This industrial asset, located at 490 Hillside Avenue in the Hillside market, has a total square footage of 33,000. The transaction was completed at a sale price of $6,750,000, resulting in a price per square foot of $205.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $6,750,000
- Address: 490 Hillside Avenue
- Market: Hillside
- Square Footage: 33,000
- Price Per Square Foot: $205
- Buyer: Longpoint Partners
- Seller: Ken & Steve Dietz
- Brokers: Yanni Marmarou & Andrea Nestico - Investment Property Realty Group (IPRG)
The key players in this transaction include the buyer, Longpoint Partners, and the sellers, Ken and Steve Dietz. The negotiating brokers for this deal were Yanni Marmarou and Andrea Nestico, representing the Investment Property Realty Group (IPRG).
Players
Hillside 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
2.35%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93