Adam Gordon Acquires Industrial Property From New York Times For $35.83M In College Point
28 10 Whitestone Expressway Service Road
$35,828,200
$141/SF
Building Size
252,890 SF
Asset Type
Industrial
Closing
Feb 21, 2025
AI
The property involved in this transaction is an industrial asset located at 28-10 Whitestone Expressway Service Road in the College Point market. The transaction was completed at a sale price of $35,828,200. The total square footage of the property is 252,890, resulting in a price per square foot of $141.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $35,828,200
- Address: 28-10 Whitestone Expressway Service Road
- Market: College Point
- Square Footage: 252,890
- Price Per Square Foot: $141
- Buyer: Adam Gordon
- Seller: New York Times
- Brokers: Stephen R. Preuss Sr., Andreas Efthymiou, Kevin Louie & Kevin Schmitz
The key individuals involved in this transaction include the buyer, Adam Gordon, and the seller, New York Times. The brokers representing this deal are Stephen R. Preuss Sr., Andreas Efthymiou, Kevin Louie, and Kevin Schmitz, playing a crucial role in facilitating the transaction.
Players
Whitestone 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
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93