Updated Dec 4, 2024
Kings Prime Equities LLC Acquires Industrial Space From Melville Beverage Partners For $20M In Melville
135 Baylis Rd
$20,000,000
$218/SF
Building Size
91,428 SF
Asset Type
Industrial
Closing
Aug 9, 2024
About this deal
AI
The property asset involved in the transaction is an industrial space located at 135 Baylis Rd in Melville, NY. The sale price for this asset was $20,000,000, and it encompasses a total area of 91,428 square feet, which reflects a price per square foot of $219.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $20,000,000
- Address: 135 Baylis Rd
- Market: Melville
- Square Footage: 91,428
- Price Per Square Foot: $219
- Buyer: Kings Prime Equities LLC
- Seller: Melville Beverage Partners
- Brokers: Jason Maietta, Richard Warshauer, Robert Steinhart & Tommy Rosati - Colliers International
The transaction was facilitated by Colliers International, representing the brokerage efforts of Jason Maietta, Richard Warshauer, Robert Steinhart, and Tommy Rosati. The buyer, Kings Prime Equities LLC, is an appliance wholesaler that is relocating from Bethpage.
On the Map
$20,000,000
$218/SF
Industrial
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Players
Melville 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93