Longpoint Property Group Acquires Industrial Asset In Springfield Gardens For $21.2M
SOLD
$21,153,264
New York
See Similar DealsIndustrial66,976 SF
Sold 07/05/2022
SOLD
Longpoint Property Group Acquires Industrial Asset In Springfield Gardens For $21.2M
152-65 Rockaway Boulevard, Queens, New York 11434, United States
See Similar DealsIndustrial66,976 SF
Sold 07/05/2022
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$315
Total Square Footage:66,976 SF
Transaction Type:Sale
The industrial property located at 152-65 Rockaway Boulevard in Springfield Gardens has been sold. The property spans 66,976 square feet and was sold for a total price of $21,153,264, resulting in a price per square foot of $315. The transaction took place on 07/05/2022.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $21,153,264
- Address: 152-65 Rockaway Boulevard
- Market: Springfield Gardens
The buyer for this transaction is Longpoint Property Group, represented by Nilesh Bubna. The seller is John Leondis.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,128,174.06
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$75,153.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$100,277.26
Annual Debt Service$1,203,327.16
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