Updated Oct 29, 2024
Kingston Investors Corp Acquires Long Island City Dev Site For $5.25M
43-01 39th St, Long Island City, NY 11104, USA
$5,250,000
$42/SF
Building Size
125,000 SF
Asset Type
Development Site
Closing
Dec 22, 2019
About this deal
AI
An industrial development site located at 43-01 39th Street in Long Island City has been sold for $5,250,000. The property, which spans 12,500 square feet, consists of five industrial spaces. The asking price for the site was $5,995,000, resulting in a sale price of $420 per square foot.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,250,000
- Address: 43-01 39th Street, Long Island City
- Market: Long Island City
- Square Footage: 12,500
- Asking Price: $5,995,000
- Price per Square Foot: $420
- Units: 5 Industrial Spaces
The seller of the property was Vladimir Basin and Mamed Dzhaniyev. The buyer, Bill Harrigan, represented Kingston Investors Corp in the transaction. @HarryZikosNY and @NestSeekers acted as the seller's representatives, while @WillDiana_ served as the buyer's representative.
Players
Sunnyside Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Visit Harry Zikos to view all their deals.
Browse Sunnyside development site sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.02%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93