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:
- Property Type: Industrial
- Transaction Amount: Not Applicable
- Address: 2175 5th Avenue
- Market: Ronkonkoma
- Tenant: Lumber Plus
- Brokers: Frank Frizalone, John Giannuzzi, Nicholas Gallipoli, Ryan Korzekwinski, and Thomas DeLuca - Cushman & Wakefield
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
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