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15 127th Street, College Po...

Hui Wang Acquires Industrial Property In College Point For $5.35M
SOLDIndustrial

Hui Wang Acquires Industrial Property In College Point For $5.35M

15 127th Street, College Point, NY 11356

$5,350,000

$222/SF

Building Size

24,000 SF

Asset Type

Industrial

Closing

Dec 10, 2021

AI

A 24,000 square foot industrial property located at 15-32 127th Street in College Point has been sold for $5,350,000. The property, zoned as M1-2, was purchased by Hui Wang from Lawrence Cerullo. This sale equates to a price per square foot of $223.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $5,350,000
  • Address: 15-32 127th Street
  • Market: College Point
  • Zoning: M1-2

Barbie Li represented the buyer, Hui Wang, while Luca Di Ciero from NY Space Finders represented the seller, Lawrence Cerullo.

Players

Luca DiCiero

NY Space Finders

Broker

$124.3M

vol

151 deals

Broker

Hui Wang

Buyer

$7.8M

vol

7 deals

Buyer

Lawrence Cerullo

Seller

$13.8M

vol

6 deals

Seller

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

2.97%

Cash-on-Cash

-0.85%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93