Updated Sep 9, 2024
Alex Verman Acquires Industrial Property In Ridgewood From Gerry Whelan For $2.035M
16-23 Cody Avenue, Ridgewood, NY 11385
$2,035,000
$452/SF
Building Size
4,500 SF
Asset Type
Industrial
Closing
Oct 19, 2022
About this deal
AI
The industrial property at 16-23 Cody Avenue in Ridgewood has been sold for a sale price of $2,035,000. The property spans 4,500 square feet and has a price per square foot of $452. The transaction took place on October 20, 2022. The buyer is Alex Verman and the seller is Gerry Whelan. The property, located in the Ridgewood market, was represented by brokers Dan OBrien, Will Diana, Caroline Hodes, and Dylan Walsh from Cushman & Wakefield.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $2,035,000
- Address: 16-23 Cody Avenue
- Market: Ridgewood
- Buyer: Alex Verman
- Seller: Gerry Whelan
- Brokers: Dan OBrien, Will Diana, Caroline Hodes, Dylan Walsh - Cushman & Wakefield
The deal, facilitated by brokers from Cushman & Wakefield, involved key individuals such as Dan OBrien, Will Diana, Caroline Hodes, and Dylan Walsh. They successfully represented the buyer and seller in the transaction.
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
7.80%
Cash-on-Cash
-2.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93