Updated Dec 21, 2023
Gui Ying Hong Acquires Warehouse In Springfield Gardens, Queens For $4.15M
167-43 Porter Road, Queens, New York 11434, United States
$4,150,000
$370/SF
Building Size
11,200 SF
Asset Type
Industrial
Closing
Nov 30, 2021
About this deal
AI
A warehouse located at 167-43 Porter Road in Springfield Gardens, Queens has been sold for $4,150,000. The property, with a total square footage of 11,200, consists of a building with 8,000 square feet of floor space, resulting in a price per square foot of $371. The buyer of the warehouse is Gui Ying Hong, while the seller is George Georgakopoulos. The warehouse has a lot size of 8,000 square feet and is zoned as M1-1 for commercial and manufacturing purposes. The previous sale of the property took place on November 30, 2010, with a price of $1,285,000.
Summary of transaction details
- Property Type: Warehouse
- Transaction Amount: $4,150,000
- Address: 167-43 Porter Road, Springfield Gardens, Queens
- Market: Springfield Gardens, Queens
- Buyer: Gui Ying Hong
- Seller: George Georgakopoulos
- Square Footage: 11,200
- Price per Square Foot: $371
- Lot Size: 8,000 square feet
- Zoning: M1-1
- Last Sale Price: $1,285,000 (11/30/2010)
- Lot Dimension: 80 ft x 100 ft
This transaction marks the successful sale of the warehouse, with Gui Ying Hong acquiring the property from George Georgakopoulos. The warehouse, situated in the commercial and manufacturing zone of M1-1, offers ample floor space and a lot size of 8,000 square feet. The sale price of $4,150,000 reflects the value placed on this property in the Springfield Gardens market of Queens.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.82%
Cash-on-Cash
-1.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93