Updated Oct 28, 2024
John A. Grib's Stonemont Financial Group Acquires Industrial Property On Long Island For $11M
26-28 Garfield Avenue, Bay Shore, New York 11706, United States
$11,000,000
$43/SF
Building Size
253,000 SF
Asset Type
Industrial
Closing
Oct 10, 2022
About this deal
AI
Located in Long Island, the industrial property at 26-28 Garfield Avenue has been sold in a recent transaction. The sale was facilitated by John A. Grib of Stonemont Financial Group, representing the buyer, and Troy Caruso, the seller.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $11,000,000
- Size: 253,000 square feet
- Price per square foot: $43
- Date: 10/11/2022
- Address: 26-28 Garfield Avenue
- Market: Long Island
The buyer, John A. Grib of Stonemont Financial Group, played a key role in the successful sale of this industrial property. The seller, Troy Caruso, decided to part ways with the asset, which fetched a price of $11,000,000. Spanning across 253,000 square feet, the property was sold at a rate of $43 per square foot.
Players
Bay Shore 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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93