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145-52 167th Street & 165-1...

Jennifer R.H. Sockel Acquires Industrial Building In Springfield Gardens, Queens For $25.4M
SOLDIndustrial

Jennifer R.H. Sockel Acquires Industrial Building In Springfield Gardens, Queens For $25.4M

$25,409,375

$616/SF

Building Size

41,250 SF

Asset Type

Industrial

Closing

Sep 20, 2023

AI

An industrial building at 145-52 167th Street and two adjacent parcels, including 165-17 146th Avenue, in Springfield Gardens, Queens, has been sold for a total of $25.4 million. The property is acquired by Jennifer R.H. Sockel - Penske Truck Leasing, through Penske Truck Leasing Co., L.P., from Susan Nurge & John Nurge - Estate of Frederick A. Nurge.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $25,409,375
  • Buyer: Jennifer R.H. Sockel - Penske Truck Leasing
  • Seller: Susan Nurge & John Nurge - Estate of Frederick A. Nurge
  • Address: 145-52 167th Street & 165-17 146th Avenue
  • Market: Springfield Gardens, Queens

Penske Truck Leasing, operating through Penske Truck Leasing Co., L.P., has acquired an industrial building at 145-52 167th Street and two adjacent parcels, including 165-17 146th Avenue, in Springfield Gardens, Queens, for a total of $25.4 million.

Players

PL
Penske Truck LeasingBuyer

Market 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

0.62%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93