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167-43 Porter Road, Queens,...

Updated Dec 21, 2023

Gui Ying Hong Acquires Warehouse In Springfield Gardens, Queens For $4.15M
SOLDIndustrial

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

Gui Ying Hong

Buyer

$9.5M

vol

2 deals

Buyer

New York Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $370 per square foot on a published $4.2M for 11,200 square feet (2021).

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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

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