Updated Nov 28, 2024
Prologis Acquires Industrial Property In Ridgewood, Queens For $37.5M
18-51 Flushing Ave, Flushing, NY 11385, USA
$37,500,000
$35/SF
Building Size
1,055,550 SF
Asset Type
Industrial
Closing
Jan 22, 2020
About this deal
AI
An industrial property located at 18-51 Flushing Avenue in Ridgewood, Queens has been sold for a price of $37,500,000. The property spans 105,555 square feet and has a price per square foot of $355. The transaction took place between the buyer, Prologis represented by Hamid Moghadam, and the seller, @FritoLay.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $37,500,000
- Square Footage: 105,555
- Price Per Square Foot: $355
- Buyer: Prologis represented by Hamid Moghadam
- Seller: @FritoLay
Steven Williams and Hamid Moghadam were involved in the transaction as representatives from Prologis. The deal between Prologis and @FritoLay marks the successful sale of the industrial property located at 18-51 Flushing Avenue in Ridgewood, Queens.
Players
Ridgewood 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
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93