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180 Terminal Drive, Plainvi...

Shawn Kui Acquires Industrial Building In Nassau County For $7.6M
SOLDIndustrial

Shawn Kui Acquires Industrial Building In Nassau County For $7.6M

180 Terminal Drive, Plainview, New York 11803, United States

$7,600,000

$193/SF

Building Size

39,250 SF

Asset Type

Industrial

Closing

Apr 21, 2022

AI

180 Terminal Drive in Plainview, NY has been sold in a recent transaction. The 39,250 square foot single-story industrial building was formerly occupied by Kassl Windows and is located off Long Island Expressway Exit 46, Sunnyside Boulevard. The property, owned by Ron Kassl for over 50 years, was sold for $7,600,000, exceeding the asking price of $7,000,000. The sale of the building marks the first time it has been owned by another landlord, making it a highly desirable asset in the Plainview Industrial Market.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $7,600,000
  • Address: 180 Terminal Dr.
  • Market: Nassau County

Corey Gluckstal & John Abbate from Five Point Real Estate represented the seller, Ron Kassl, in the transaction. The team received over 20 inspections and multiple offers, highlighting the strong demand for industrial properties on Long Island. For more information about this deal or general inquiries, contact Five Point Real Estate at 631-683-8003 or [email protected].

Players

Corey Gluckstal

Five Point Real Estate

Broker

$78.6M

vol

6 deals

Broker

Plainview 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

2.09%

Cash-on-Cash

-0.60%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93