Updated Oct 29, 2024
New Age Contractors Acquires Industrial Property In Freeport For $1M
16 Niagara Ave Freeport, NY 11520, USA
$1,000,000
$245/SF
Building Size
4,070 SF
Asset Type
Industrial
Closing
May 18, 2023
About this deal
AI
An industrial property located at 16 Niagara Avenue in Freeport has been sold for $1,000,000. The property spans 4,070 square feet, resulting in a price per square foot of $246. The buyer of the property is New Age Contractors, while the seller is Forsythe Cosmetic Group.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $1,000,000
- Address: 16 Niagara Avenue
- Market: Freeport
- Buyer: New Age Contractors
- Seller: Forsythe Cosmetic Group
The deal was facilitated by Michael Gronenthal of Douglas Elliman, who represented the buyer, New Age Contractors, in the transaction.
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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93