Carlo Bordone Purchases Industrial Property From The Miller Family In Long Island City For $4.2M
SOLD
$4,200,000
New York
See Similar DealsIndustrial10,000 SF
Sold 03/13/2025
SOLD
Carlo Bordone Purchases Industrial Property From The Miller Family In Long Island City For $4.2M
22 02 37th Avenue
See Similar DealsIndustrial10,000 SF
Sold 03/13/2025
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$420
Total Square Footage:10,000 SF
Transaction Type:Sale
The asset involved in the transaction is an industrial property located at 22 02 37th Avenue in Long Island City, featuring a total square footage of 10,000. The property was sold for $4,200,000.00.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $4,200,000.00
- Address: 22 02 37th Avenue
- Market: Long Island City
- Square Footage: 10,000.0
- Buyer: Carlo Bordone
- Seller: The Miller Family
Reyes & El-Samad Real Estate Group represented both the seller and the purchaser in this off-market transaction. The sellers had owned the property for nearly 50 years, and the deal was delivered 100% occupied upon closing.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$223,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,921.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,910.14
Annual Debt Service$238,921.71
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