Seagis Property Group Acquires Industrial Property In Astoria, Queens For $14.4M
19-19 37th Street, Astoria, Queens County, NY, USA
$14,400,000
$626/SF
Building Size
23,000 SF
Asset Type
Industrial
Closing
Nov 23, 2021
AI
A 23,000 square foot industrial property located at 19-19 37th Street in Astoria, Queens was recently sold for $14,400,000. The property was acquired by Seagis Property Group, with Stefan Sansone representing the buyer. The transaction was facilitated by brokers Andreas Efthymiou, Stephen R. Preuss Sr., and Joe Grotto.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $14,400,000
- Address: 19-19 37th Street, Astoria, Queens
- Market: Astoria, Queens
- Buyer: Seagis Property Group - Stefan Sansone
- Brokers: Andreas Efthymiou, Stephen R. Preuss Sr., Joe Grotto
- Square Footage: 23,000
This transaction highlights the successful collaboration between Seagis Property Group and their representative, Stefan Sansone. The deal was facilitated by brokers Andreas Efthymiou, Stephen R. Preuss Sr., and Joe Grotto, who played a crucial role in bringing the parties together and negotiating the sale of this industrial property in Astoria, Queens.
Players
Astoria 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
1.10%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93