SOLDIndustrial
Mohammad Nazzal Acquires West New York Industrial Property For $1.68M
590 56th Street
$1,680,000
$108/SF
Building Size
15,427 SF
Asset Type
Industrial
Closing
May 30, 2024
AI
Located at 590 56th Street in West New York, the industrial property spanning 15,427 square feet was recently involved in a transaction valued at $1,680,000, equating to $109 per square foot.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,680,000
- Buyer: Mohammad Nazzal
- Seller: Philip Eisenberg - Urban American
- Broker: David Betesh
- Address: 590 56th Street
- Market: West New York
The deal was facilitated by David Betesh, representing the parties involved in the transaction.
West New York 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
9.44%
Cash-on-Cash
-2.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93