Michael Sclafani Acquires Industrial Property In Queens Village For $1.8M
220-05 97th Avenue, Queens, New York 11429, United States
$1,800,000
$230/SF
Building Size
7,796 SF
Asset Type
Industrial
Closing
Jun 20, 2022
AI
The industrial property located at 220-05 97th Avenue in Queens Village has been sold in a recent transaction. The sale was facilitated by brokers Jakub Nowak and Jonathan Eshaghian from The Nowak Group, who represented the buyer and seller respectively. The property was purchased by Michael Sclafani from Gerald Matlin for a total price of $1,800,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,800,000
- Date: 06/21/2022
- Address: 220-05 97th Avenue
- Market: Queens Village
- Buyer: Michael Sclafani
- Seller: Gerald Matlin
- Brokers: Jakub Nowak & Jonathan Eshaghian (The Nowak Group) - Marcus & Millichap
The property spans a total area of 7,796 square feet, resulting in a price per square foot of $230. For further information about selling industrial or office properties in NYC, interested individuals can reach out to the experts at The Nowak Group. Jakub Nowak can be contacted at 718-475-4353, and Jonathan Eshaghian can be reached at 718-475-4379.
Players
New York 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
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93