Jonathan Yormak Acquires Industrial Property In Long Island City For $41.7M
15 50th Avenue
$41,700,000
$329/SF
Building Size
126,533 SF
Asset Type
Industrial
Closing
Jan 18, 2022
AI
An industrial property located at 48-02 48 Avenue & 48-15 50 Avenue in Long Island City, Queens, was sold on January 18, 2022. The property is zoned as M1-2 and spans a total of 126,533 square feet. The transaction was completed at a price of $41,700,000, resulting in a price per square foot of $329. The property has a lot size of 96,625 with dimensions of 457 feet by 253 feet.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $41,700,000
- Market: Long Island City, Queens
- Zoning: M1-2
- Square footage: 126,533
- Price per square foot: $329
- Lot Size: 96,625
- Lot Dimensions: 457 ft x 253 ft
The buyer of the property is Jonathon Yormak, while the seller is Peter Gaslow.
Elmhurst 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
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93