Life Storage Acquires Industrial Property In Jamaica For $36.4M
SOLD
$36,400,000
New York
See Similar DealsIndustrial70,022 SF
Sold 03/15/2021
SOLD
Life Storage Acquires Industrial Property In Jamaica For $36.4M
134-31 Merrick Boulevard, Jamaica, NY, USA
See Similar DealsIndustrial70,022 SF
Sold 03/15/2021
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$519
Total Square Footage:70,022 SF
Transaction Type:Sale
The industrial property located at 134-31 Merrick Boulevard in Jamaica has been sold. The transaction took place on March 15, 2021, with a sale price of $36,400,000. The property has a building square footage (BSF) of 70,022 and a price per BSF (PPBSF) of $519. The total square footage (SF) is also 70,022, with a price per square foot (PPSF) of $519. The property has a floor area ratio (FAR) of 1.00 and falls under tax class 4. The lot size is 70,022 with dimensions of 408.08 ft x 211 ft.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $36,400,000
- Market: Jamaica
- Buyer: Life Storage
- Seller: SNL Development Group
Life Storage was represented by their broker in the deal.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,941,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$129,321.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$172,554.57
Annual Debt Service$2,070,654.84
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