Metropolitan Realty Associates Acquires Industrial Property In Long Island For $21.9M
SOLD
$21,937,500
+ 2
New York
See Similar DealsIndustrial102 SF
Sold 11/17/2022
SOLD
Metropolitan Realty Associates Acquires Industrial Property In Long Island For $21.9M
195 13th Street, Queens, New York 11106, United States
See Similar DealsIndustrial102 SF
Sold 11/17/2022
+ 2
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$215,073
Total Square Footage:102 SF
Transaction Type:Sale
The industrial property located at 195 13th Avenue in Long Island has been sold. The transaction took place on November 17, 2022.
Summary of transaction details:
- Property Type: Industrial
- Sale Price: $21,937,500
- Square Footage: 102,000
- Price per Square Foot: $215
- Market: Long Island
The buyer of the property is Metropolitan Realty Associates, represented by Joseph A. Farkas. The seller is the Finkelstein Family.
The brokers involved in the deal were Jordan Avanzato, Marc Duval, Nick Stefans, and Jacob Entel.
Players
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,170,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$77,939.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$103,994.94
Annual Debt Service$1,247,939.30
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