Criterion Group Acquires Industrial Property In Ridgewood For $26M
SOLD
$26,000,000
New York
See Similar DealsIndustrial60,837 SF
Sold 07/15/2022
SOLD
Criterion Group Acquires Industrial Property In Ridgewood For $26M
1051 Irving Ave, Ridgewood, NY 11385
See Similar DealsIndustrial60,837 SF
Sold 07/15/2022
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$427
Total Square Footage:60,837 SF
Transaction Type:Sale
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
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,386,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$92,372.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$123,253.26
Annual Debt Service$1,479,039.17
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