Updated Oct 29, 2024
Brian Crosby & Mana Products Acquire Industrial Property In Sunnyside, Queens For $75M
27-11 49th Ave, Long Island City, NY 11101, USA
$75,000,000
$34/SF
Building Size
2,148,200 SF
Asset Type
Industrial
Closing
Aug 30, 2020
About this deal
AI
A industrial property located at 27-11 49 Avenue in Sunnyside, Queens has been sold. The transaction took place on August 31, 2020. The property is classified as an industrial asset and spans a total area of 214,820 square feet. The sale price for this property was $75,000,000, resulting in a price per square foot of $349. The buyer of the property is Brian Crosby & Mana Products, while the seller is Lawrence Weinstock.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $75,000,000
- Address: 27-11 49 Avenue, Sunnyside, Queens
- Market: Sunnyside, Queens
- Square Footage: 214,820
- Price per Square Foot: $349
- Buyer: Brian Crosby & Mana Products
- Seller: Lawrence Weinstock
The property is zoned as M3-2, with a floor area ratio (FAR) of 2 for commercial purposes. The lot size measures 328.08 feet by 395.5 feet, and the property falls under tax class 4.
On the Map
$75,000,000
$34/SF
Industrial
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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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93