Updated Oct 28, 2024
Metropolitan Realty Associates And Morgan Stanley Real Estate Acquire Long Island City Industrial Property For $105.5M
27-11 49th Avenue, Queens, New York 11101, United States
$105,500,000
$479/SF
Building Size
220,000 SF
Asset Type
Industrial
Closing
Jun 6, 2022
About this deal
AI
An industrial property located at 27-11 49th Avenue in Long Island City has been sold for a transaction amount of $105,500,000. The property spans 220,000 square feet, resulting in a price per square foot of $479. The sale took place on 06/07/2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $105,500,000
- Address: 27-11 49th Avenue, Long Island City
- Market: Long Island City
The buyer of the property is Metropolitan Realty Associates, represented by Joseph Farkas, along with Morgan Stanley Real Estate, represented by Michael Givner. The seller is Traub Capital, represented by Brian Crosby and Mana Products. The seller's representatives in the deal are Doug Middleton and Will Pike from CBRE.
On the Map
$105,500,000
$479/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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93