Marc Weil Acquires Fresh Meadows Industrial Property For $6.25M
SOLD
$6,250,000
New York
See Similar DealsIndustrial2,560 SF
Sold 09/01/2021
SOLD
Marc Weil Acquires Fresh Meadows Industrial Property For $6.25M
175-22 Horace Harding Expressway, Fresh Meadows, NY, USA
See Similar DealsIndustrial2,560 SF
Sold 09/01/2021
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$2,441
Total Square Footage:2,560 SF
Transaction Type:Sale
The industrial property located at 175-22 Horace Harding Expwy in Fresh Meadows has been sold for $6,250,000. The property spans 2,560 square feet, resulting in a price per square foot of $2,441. The lot size is 17,870 square feet, with dimensions of 117 feet by 172.67 feet. The property is zoned as R3-2 and C2-2, allowing for various uses.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $6,250,000
- Address: 175-22 Horace Harding Expwy, Fresh Meadows
- Market: Fresh Meadows
- Zoning: R3-2, C2-2
Marc Weil served as the buyer in this transaction, while James Weil acted as the seller. The property's last recorded sale was for $1,216,259 on December 29, 2010. A sign permit was issued on September 5, 2017.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,204.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,628.19
Annual Debt Service$355,538.26
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