DH Property Holdings Acquires Industrial Property On South Avenue, Staten Island For $14.2M
SOLD
$14,200,000
New York
See Similar DealsIndustrial764,000 SF
Sold 06/21/2021
SOLD
DH Property Holdings Acquires Industrial Property On South Avenue, Staten Island For $14.2M
1800 South Avenue, Staten Island, NY, USA
See Similar DealsIndustrial764,000 SF
Sold 06/21/2021
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$18
Total Square Footage:764,000 SF
Transaction Type:Sale
DH Property Holdings, represented by Dov Hertz, has acquired an industrial property located at 1800 South Avenue in Staten Island. The property spans approximately 764,000 square feet and was sold by Stewart Mann for a total price of $14,200,000. This translates to an average price per square foot of $18.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $14,200,000
- Address: 1800 South Avenue
- Market: Staten Island
The acquisition was executed by DH Property Holdings, a real estate company represented by Dov Hertz. On the seller's side, Stewart Mann played a crucial role in facilitating the transaction. This deal highlights the strategic investment made by DH Property Holdings in the industrial sector in Staten Island.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$757,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$50,449.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$67,315.24
Annual Debt Service$807,782.93
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