Longpoint Property Group Acquires Industrial Asset In Springfield Gardens For $21.2M
152-65 Rockaway Boulevard, Queens, New York 11434, United States
$21,153,264
$315/SF
Building Size
66,976 SF
Asset Type
Industrial
Closing
Jul 4, 2022
AI
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.
Players
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
0.75%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93