Updated Dec 21, 2023
Brad Zackson, Justin Ehrlich & Gary Segal Acquire Queens Plaza South Industrial Property In Long Island City For $27.5M
23-10 Queens Plaza S, Long Island City, NY 11101, USA
$27,500,000
$12/SF
Building Size
2,176,160 SF
Asset Type
Industrial
Closing
Nov 19, 2019
About this deal
AI
The industrial property located at 23-10 Queens Plaza South in Long Island City was recently sold. The sale, which took place on November 20, 2019, involved a transaction amount of $27,500,000. The property spans a total area of 217,616 square feet and has a price per square foot of $126.
Summary of Transaction Details:
- Property Type: Industrial
- Sale Price: $27,500,000
- Loan Amount: $29,800,000
- Square Footage: 217,616
- Market: Long Island City
The deal involved several key individuals and companies. The loan for the transaction was provided by Churchill Real Estate. The parties involved in the sale included Brad Zackson, Kevin Maloney, Gary Segal, Ben Jacobs, Ronnie Levine, Shamir Seidman, Shlomo Weissberg, and Justin Ehrlich. Brad Zackson, Kevin Maloney, and Gary Segal also played a role in the sale.
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
0.58%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93