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28 10 Whitestone Expressway...

Adam Gordon Acquires Industrial Property From New York Times For $35.83M In College Point
SOLDIndustrial

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

Kevin Louie

Ripco

Broker

$1B

vol

126 deals

Broker
Adam Gordon

Adam Gordon

Buyer

$736.8M

vol

14 deals

Buyer

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