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200 Sea Ln, Farmingdale, NY...

Velocity Pharma Leases Industrial Space In Farmingdale, NY To J & L Farmingdale LLC
LEASEDIndustrial

Velocity Pharma Leases Industrial Space In Farmingdale, NY To J & L Farmingdale LLC

200 Sea Ln, Farmingdale, NY, 11735

Building Size

23,002 SF

Asset Type

Industrial

Closing

Dec 11, 2018

AI

Located at 200 Sea Ln, Farmingdale, NY, 11735, the industrial property leased by Velocity Pharma spans 23,002 square feet. The landlord, J & L Farmingdale LLC, was represented by Lee Rosner from Coldwell Banker. Tenant's representative Michael Freedberg facilitated the lease transaction for Velocity Pharma.

Summary of transaction details:

Michael Freedberg from Suffolk Industrial Properties represented Velocity Pharma, while Lee Rosner and Steven Reichman of Coldwell Banker Commercial Island Corporate Services represented the landlord, J & L Farmingdale LLC, in the lease of the industrial space at 200 Sea Ln, Farmingdale. This transaction showcases the collaboration between the tenant and landlord's representatives in closing the deal successfully.

Players

Michael Freedberg

Broker

$9.4M

vol

8 deals

Broker

Farmingdale Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

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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