Mio Marino Acquires Industrial Property On Enterprise Dr. In Kingston For $13.25M
SOLD
$13,250,000
New York
See Similar DealsIndustrial450,000 SF
Sold 08/18/2021
SOLD
Mio Marino Acquires Industrial Property On Enterprise Dr. In Kingston For $13.25M
1700 Enterprise Dr, Kingston, NY, USA
See Similar DealsIndustrial450,000 SF
Sold 08/18/2021
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$29
Total Square Footage:450,000 SF
Transaction Type:Sale
A 450,000 square foot industrial property located at 1700 Enterprise Dr. in Kingston has been sold for $13,250,000. The transaction took place on August 18, 2021.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $13,250,000
- Market: Kingston
- Buyer: Mio Marino
- Seller: Alan Ginsburg
- Buyer's Representative: Zev Steinmetz
Zev Steinmetz, representing Mio Marino, facilitated the purchase of the property from Alan Ginsburg.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$706,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$47,074.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$62,811.76
Annual Debt Service$753,741.12
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