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17702 Jamaica Avenue, Jamai...

Mark Koplowitz Acquires Industrial Property In Jamaica, Queens For $3.4M
SOLDIndustrial

Mark Koplowitz Acquires Industrial Property In Jamaica, Queens For $3.4M

17702 Jamaica Avenue, Jamaica, NY 11432, USA

$3,400,000

$182/SF

Building Size

18,647 SF

Asset Type

Industrial

Closing

Apr 28, 2021

AI

The industrial property located at 177-02 Jamaica Ave in Jamaica, Queens, has been sold in a recent transaction. The property is zoned as R6A, C2-4, DJ and spans a total of 18,647 square feet. It was sold for a price of $3,400,000, resulting in a price per square foot of $184. The buyer in this transaction is Mark Koplowitz, while the seller is The Karlin Family. Stephen R. Preuss and Kevin Schmitz from Cushman & Wakefield represented the seller as their representatives in the deal.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $3,400,000
  • Address: 177-02 Jamaica Ave, Jamaica, Queens
  • Market: Jamaica, Queens
  • Zoning: R6A, C2-4, DJ

The deal was facilitated by Stephen R. Preuss and Kevin Schmitz from Cushman & Wakefield, who represented the seller in the transaction. Mark Koplowitz acted as the buyer in this industrial property sale.

Players

Stephen R. Preuss Sr.

Ripco

Broker

$2B

vol

259 deals

Broker

Mark Koplowitz

Buyer

$24M

vol

7 deals

Buyer

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

4.67%

Cash-on-Cash

-1.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93