Ari Malekan Acquires Industrial Property At 1655-1661 Weirfield St. In Ridgewood, Queens For $2.5M
SOLD
$2,500,000
New York
See Similar DealsIndustrial12,000 SF
Sold 04/12/2021
SOLD
Ari Malekan Acquires Industrial Property At 1655-1661 Weirfield St. In Ridgewood, Queens For $2.5M
1655 Weirfield Street, Ridgewood, NY 11385, USA
See Similar DealsIndustrial12,000 SF
Sold 04/12/2021
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$208
Total Square Footage:12,000 SF
Transaction Type:Sale
Located at 1655-1661 Weirfield St. in Ridgewood, Queens, this industrial property has recently been sold. The transaction took place on April 12, 2021. The property spans a total of 12,000 square feet, with a price per square foot of $208. The sale price for this transaction amounted to $2,500,000.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $2,500,000
- Address: 1655-1661 Weirfield St., Ridgewood, Queens
- Square Footage: 12,000
- Price per Square Foot: $208
- Date: April 12, 2021
In this deal, the buyer was Ari Malekan, while Trudy Kloock served as the seller. The brokers involved in the transaction were Stephen R. Preuss and Rani Bendary from TeamPreuss at Cushman & Wakefield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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