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2175 5th Avenue

Lumber Plus Leases 33,000 SF Industrial Space In Ronkonkoma, NY
LEASEDIndustrial

Lumber Plus Leases 33,000 SF Industrial Space In Ronkonkoma, NY

2175 5th Avenue

Building Size

33,000 SF

Asset Type

Industrial

Closing

Jan 29, 2024

AI

Located at 2175 5th Avenue in Ronkonkoma, Long Island, the property involved in this transaction is an industrial asset spanning 33,000 square feet. The lease was finalized between Landlord Joseph A. Farkas of Metropolitan Realty Associates and Tenant Lumber Plus, a distributor specializing in Brazilian woods and flooring products.

Summary of transaction details:

The deal was facilitated by brokers Frank Frizalone, John Giannuzzi, Nicholas Gallipoli, Ryan Korzekwinski, and Thomas DeLuca from Cushman & Wakefield. Lumber Plus' specialization in Brazilian woods and flooring products adds a unique touch to this industrial lease transaction, showcasing the diverse commercial activities within the Ronkonkoma market.

Players

Thomas DeLuca

Cushman & Wakefield

Broker

$123.7M

vol

14 deals

Broker

Joseph Farkas

Metropolitan Realty Associates

Landlord

$35.9M

vol

3 deals

Landlord

Ronkonkoma 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