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:
- Property Type: Industrial
- Transaction Amount: Not specified
- Tenant: Velocity Pharma
- Landlord: J & L Farmingdale LLC
- Square Feet: 23,002
- Tenant's Rep: Michael Freedberg()
- Landlord's Rep: Lee Rosner(Coldwell Banker)
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.
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