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220-05 97th Avenue, Queens,...

Michael Sclafani Acquires Industrial Property In Queens Village For $1.8M
SOLDIndustrial

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

Jonathan Eshaghian

Isaacson Real Estate

Broker

$170.1M

vol

19 deals

Broker

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