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114-16 Rockaway Boulevard

Speed Post Industrial Property Sold In Queens For $3.2M
SOLDIndustrial

Speed Post Industrial Property Sold In Queens For $3.2M

114-16 Rockaway Boulevard

$3,200,000

$290/SF

Building Size

11,000 SF

Asset Type

Industrial

Closing

Jul 28, 2022

AI

Located at 114-16 Rockaway Blvd. in Queens, this industrial property was recently sold in a speedy transaction. The property spans 11,000 square feet and was sold for a total price of $3,200,000, resulting in a price per square foot of $290. The property showcases its value in the vibrant Queens market.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $3,200,000
  • Square Feet: 11,000
  • Price per Square Foot: $290
  • Location: 114-16 Rockaway Blvd., Queens

The sale was facilitated by Chris Pesce and Ken Hester from Douglas Elliman Commercial, who represented the seller in this transaction. Their expertise and negotiation skills contributed to the successful sale of this industrial property in Queens. Situated in a prime location, this property offers immense potential for future growth and development.

Players

Christopher Pesce

Douglas Elliman

Broker

$15.1M

vol

7 deals

Broker

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

4.96%

Cash-on-Cash

-1.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93