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13107 14th Avenue, College ...

Insite Property Group Acquires Industrial Asset In College Point For $15.25M
SOLDIndustrial

Insite Property Group Acquires Industrial Asset In College Point For $15.25M

13107 14th Avenue, College Point, NY 11356, USA

$15,250,000

$273/SF

Building Size

55,700 SF

Asset Type

Industrial

Closing

Jun 22, 2020

AI

Located at 131-07 14th Ave in College Point, this industrial property was recently sold. The property features a total buildable square footage of 132,000, with a sale price of $15,250,000. The transaction took place on June 22, 2021.

Summary of transaction details

  • Property Type: Industrial
  • Sale Price: $15,250,000
  • Address: 131-07 14th Ave
  • Market: College Point
  • Buyer: Keith Wetzel - Insite Property Group
  • Seller: James Goonan - Safeguard Self Storage
  • Brokers: Alexandra Rossland & David Marciano - BridgeRealty Group
  • Buildable Square Footage: 132,000

Representing the buyer, Keith Wetzel from Insite Property Group completed the acquisition. On the other hand, James Goonan from Safeguard Self Storage acted as the seller. The deal was facilitated by brokers Alexandra Rossland and David Marciano from BridgeRealty Group.

Players

David Marciano

Alpha Realty

Broker

$67.1M

vol

9 deals

Broker

Keith Wetzel

Buyer

$28.8M

vol

3 deals

Buyer
IG
InSite Property GroupBuyer

James Goonan

Safeguard Self Storage

Seller

$112.6M

vol

3 deals

Seller

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

1.04%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93