Updated Oct 29, 2024
HomeDepot Acquires Industrial Property In Queens For $63M
59 02 Borden Ave, Flushing, Ny 11378, Usa
Building Size
202,050 SF
Asset Type
Industrial
Closing
Sep 16, 2017
About this deal
AI
The industrial property located at 59-02 Borden Avenue in Queens, New York has been sold in a closed transaction. The property was purchased by @HomeDepot for a total price of $63,000,000. The seller of the property was Coca-Cola European Partners. The transaction was facilitated by Pinnacle Realty of NY, who represented the buyer in the deal.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $63,000,000
- Address: 59-02 Borden Avenue
- City: New York
- Market: Queens
Pinnacle Realty of NY played a crucial role in the transaction as the broker representing @HomeDepot. Their expertise and negotiation skills were instrumental in the successful purchase of this industrial property. This deal marks a significant milestone for both the buyer and the seller, further highlighting the importance of the industrial market in Queens.
On the Map
Industrial
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Maspeth 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