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32-05 Greenpoint Avenue

Brent Iloulian Acquires Sunnyside, Queens Industrial Property From Joseph Lazo For $5.35M
SOLDIndustrial

Brent Iloulian Acquires Sunnyside, Queens Industrial Property From Joseph Lazo For $5.35M

32-05 Greenpoint Avenue

$5,350,000

$592/SF

Building Size

9,030 SF

Asset Type

Industrial

Closing

May 21, 2021

AI

Located in the Sunnyside neighborhood of Queens, the industrial property at 32-05 Greenpoint Avenue, 52-29 35th St, 32-11 Greenpoint Ave, 32-09 Greenpoint Ave, 35-09 Starr Ave, and N/A Starr Ave has recently changed hands in a sale transaction. The buyer, Brent Iloulian, acquired the property from the seller, Joseph Lazo, for a total price of $5,350,000. The property has a building square footage (BSF) of 14,992, resulting in a price per BSF of $356. Additionally, the property has a total square footage (SF) of 9,030, with a price per SF of $592. The lot size is measured at 2,521, and the property is zoned for industrial use under M1-1 zoning. Notably, the property underwent an alteration type 1 permit on March 12, 2004, and the lot dimensions measure 25 ft by 48 ft.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $5,350,000
  • BSF: 14,992
  • PPBSF: $356
  • SF: 9,030
  • PPSF: $592
  • Lot Size: 2,521
  • Zoning: M1-1

The sale of this industrial property was facilitated by Brent Iloulian as the buyer's representative.

Players

Brent Iloulian

Hackman Capital Partners

Buyer

$21.1M

vol

4 deals

Buyer

Joseph Lazo

Seller

$16.1M

vol

3 deals

Seller

Brooklyn Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.97%

Cash-on-Cash

-0.85%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93