Updated Dec 4, 2024
Morgan Stanley Prime Property Fund Acquires Industrial Asset In Springfield Gardens For $17.6M
182-11 150th Avenue, Springfield Gardens, NY, USA
$17,554,482
$195/SF
Building Size
89,616 SF
Asset Type
Industrial
Closing
Aug 17, 2021
About this deal
AI
An industrial property located at 182-02 150th Avenue and 182-11 150th Road in Springfield Gardens has been sold for $17,554,482. The property spans 89,616 square feet, resulting in a price per square foot of $195. The buyer, James P. Morgan, represented Morgan Stanley Prime Property Fund, while the seller was George C. Zoley of GEO Group.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $17,554,482
- Square Footage: 89,616
- Price per Square Foot: $195
- Market: Springfield Gardens
James P. Morgan, from Morgan Stanley Prime Property Fund, acted as the buyer's representative in this industrial property transaction in Springfield Gardens. On the other hand, George C. Zoley, the owner and representative of GEO Group, served as the seller.
Players
Springfield Gardens 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
0.90%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93