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Longpoint Partners Acquires Industrial Property From Ken & Steve Dietz For $6.75M

Property Image
SOLD
$6,750,000
Andrea (Dre) Nestico
Yanni Marmarou

New Jersey

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Industrial33,000 SF
Sold 02/25/2025
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Property Image
SOLD

Longpoint Partners Acquires Industrial Property From Ken & Steve Dietz For $6.75M

490 Hillside Avenue

See Similar Deals
Industrial33,000 SF
Sold 02/25/2025
Andrea (Dre) Nestico
Yanni Marmarou
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$204
Total Square Footage:33,000 SF
Transaction Type:Sale

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

Yanni Marmarou
Investment Property Realty Group (IPRG)
Yanni Marmarou
36 deals$150.8M volume(718) 360-5059
BROKER
Andrea (Dre) Nestico
Investment Property Realty Group (IPRG)
Andrea Nestico
11 deals$74.9M volume
BROKER
LP
Longpoint Partners
BUYER

Details

SOLD
IMAGE: Yanni Marmarou & Andrea Nestico DATE: 02/25/2025 ADDRESS: 490 Hillside Avenue MARKET: Hillside ASSET TYPE: Industrial BUYER: Longpoint Partners (@LongpointPartners) SELLER: Ken & Steve Dietz BROKERS: Yanni Marmarou (@ThatBrokerYanni) & Andrea Nestico (@Dre_Nestico) - Investment Property Realty Group (IPRG) (@IPRG_NY) SALE PRICE: $6,750,000 SF: 33,000 ~ PPSF: $205

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$360,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$23,981.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,998.44
Annual Debt Service$383,981.32