Updated Sep 5, 2024
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
About this deal
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].
On the Map
$7,600,000
$193/SF
Industrial
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Players
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