Updated Oct 28, 2024
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
About this deal
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
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