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
Brooklyn 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
2.97%
Cash-on-Cash
-0.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93