Rockrose Development Acquires Industrial Property In Astoria, Queens For $5.12M
32-49 49th Street, Queens, New York 11103, United States
$5,120,000
$512,000/SF
Building Size
10 SF
Asset Type
Industrial
Closing
Jan 2, 2023
AI
The industrial property located at 32-49 49th Street in Astoria, Queens has been sold. The transaction took place on February 1, 2023. The property was purchased by Rockrose Development, represented by Patricia Dunphy, for a total sale price of $5,120,000. The property spans 10,050 square feet and was sold at a price per square foot of $509. The buyer, Rockrose Development, is a prominent player in the real estate industry.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $5,120,000
- Address: 32-49 49th Street, Astoria, Queens
- Market: Astoria, Queens
- Buyer: Rockrose Development - Patricia Dunphy
The sale of this industrial property represents a significant deal in the real estate market. The seller, Teamsters Local 807, was represented by Demos P. Demopoulos and Scott Little. The property offers desirable characteristics, including a building square footage (BSF) of 10,489. The price per BSF (PPBSF) for the property amounts to $488, reflecting the value and potential of the industrial space. This transaction demonstrates the strength of the market in Astoria, Queens.
Players
Astoria 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
3.10%
Cash-on-Cash
-0.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93