KABR Acquires Industrial Property In Jamaica For $73.5M
SOLD
$73,500,000
+ 1
New York
See Similar DealsIndustrial618,000 SF
Sold 02/22/2022
SOLD
KABR Acquires Industrial Property In Jamaica For $73.5M
184-10 Jamaica Avenue, Queens, New York 11423, United States
See Similar DealsIndustrial618,000 SF
Sold 02/22/2022
+ 1
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$118
Total Square Footage:618,000 SF
Transaction Type:Sale
An industrial property located at 184-10 Jamaica Avenue in Jamaica has been sold for a price of $73,500,000. The property spans an area of 618,000 square feet, resulting in a price per square foot of $188. The transaction took place on February 22, 2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $73,500,000
- Address: 184-10 Jamaica Avenue
- Market: Jamaica
- Buyer: KABR - Adam Altman
- Brokers: James Nelson, Fritz Richter, Erik Edeen, and Reid Berch - Avison Young
The buyer in the deal is KABR, represented by Adam Altman. The transaction was facilitated by brokers James Nelson, Fritz Richter, Erik Edeen, and Reid Berch from Avison Young.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,919,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$261,129.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$348,427.50
Annual Debt Service$4,181,129.98
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