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1655 Weirfield Street, Ridg...

Ari Malekan Acquires Industrial Property At 1655-1661 Weirfield St. In Ridgewood, Queens For $2.5M
SOLDIndustrial

Ari Malekan Acquires Industrial Property At 1655-1661 Weirfield St. In Ridgewood, Queens For $2.5M

1655 Weirfield Street, Ridgewood, NY 11385, USA

$2,500,000

$208/SF

Building Size

12,000 SF

Asset Type

Industrial

Closing

Apr 11, 2021

AI

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.

Players

Rani Bendary

Cushman & Wakefield

Broker

$20.6M

vol

8 deals

Broker

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

6.35%

Cash-on-Cash

-1.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93