Updated Oct 28, 2024
Life Storage Acquires Industrial Property In Jamaica For $36.4M
134-31 Merrick Boulevard, Jamaica, NY, USA
$36,400,000
$519/SF
Building Size
70,022 SF
Asset Type
Industrial
Closing
Mar 14, 2021
About this deal
AI
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
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
0.44%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93