Updated Oct 28, 2024
Criterion Group Acquires Industrial Property In Ridgewood For $26M
1051 Irving Ave, Ridgewood, NY 11385
$26,000,000
$427/SF
Building Size
60,837 SF
Asset Type
Industrial
Closing
Jul 14, 2022
About this deal
AI
The industrial property located at 1051 Irving Avenue in Ridgewood has been sold for a transaction amount of $26,000,000. The property has a total square footage of 60,837 and a price per square foot of $427. The sale took place on July 15, 2022, and the buyer of the property is Criterion Group, while the sellers are Bernd Messing and Stephanie Messing.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $26,000,000
- Address: 1051 Irving Avenue
- Market: Ridgewood
Yung Ching Siu & Shibber A. Khan represented the buyer, Criterion Group, in this transaction.
Players
New York Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93