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590 56th Street

Mohammad Nazzal Acquires West New York Industrial Property For $1.68M
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.

Players

David Betesh

ICON Real Estate Advisors

Broker

$62.9M

vol

5 deals

Broker

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