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W. Blake Baird Of Terreno Realty Corporation Acquires Industrial Warehouse For $16M In Long Island City
SOLD
$16,000,000
New York
See Similar DealsIndustrial
Sold 06/19/2025
SOLD
W. Blake Baird Of Terreno Realty Corporation Acquires Industrial Warehouse For $16M In Long Island City
11 40 Borden Avenue
See Similar DealsIndustrial
Sold 06/19/2025
Summary
NEW YORK
Asset Type:Industrial
Transaction Type:Sale
An industrial warehouse located at 11-40 Borden Avenue in Long Island City, Queens has been sold for $16,000,000 in an all-cash deal. The asset type is industrial, and the sale signifies a notable transaction within the market.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $16,000,000
- Buyer: W. Blake Baird - Terreno Realty Corporation
- Seller: Wickersham Realty
- Broker: Chad Sinsheimer - Adirondack Capital Partners
The deal was brokered by Chad Sinsheimer, who represented both the buyer, W. Blake Baird from Terreno Realty Corporation, and the seller, Wickersham Realty, in this transaction involving the industrial asset.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$853,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$56,844.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,848.16
Annual Debt Service$910,177.95
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