Updated Dec 21, 2023
Barrett Bilotta Acquires Industrial Property In Long Island City For $4.6M
11-24 Borden Ave, Long Island City, NY 11101, USA
$4,600,000
$613/SF
Building Size
7,500 SF
Asset Type
Industrial
Closing
May 6, 2020
About this deal
AI
The industrial property located at 11-24 Borden Ave in Long Island City has been sold in a closed transaction. The property spans a total area of 7,500 square feet and was sold at a price of $4,600,000, resulting in a price per square foot of $613. The building has a total area of 19,400 square feet, equating to a price per square foot of $237.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $4,600,000
- Address: 11-24 Borden Ave, Long Island City
- Market: Long Island City
- Square Footage: 7,500 SF
- Price per Square Foot: $613
- Total Building Square Footage: 19,400 BSF
- Price per Building Square Foot: $237
The buyer of the property is Barrett Bilotta and the seller is Alexander Xenopoulos.
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
3.45%
Cash-on-Cash
-0.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93