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Metropolitan Realty Associates Acquires Cold Storage Facility In Bayport For $12.6M
SOLD
$12,600,000
New York
See Similar DealsIndustrial75,000 SF
Sold 02/21/2024
SOLD
Metropolitan Realty Associates Acquires Cold Storage Facility In Bayport For $12.6M
33 Rajon Road
See Similar DealsIndustrial75,000 SF
Sold 02/21/2024
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$168
Total Square Footage:75,000 SF
Transaction Type:Sale
A 75,000 sqft cold storage facility located at 33 Rajon Road in Bayport, Long Island, was sold for $12.6 million. The property was originally occupied by Europastry.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $12,600,000
- Address: 33 Rajon Road
- Market: Bayport
- Square Footage: 75,000
- Price per Square Foot: $168
The sale was facilitated by Nicholas Gallipoli of Cushman & Wakefield representing the seller, while the buyer, Metropolitan Realty Associates, was represented by Doug Omstrom from JLL.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$672,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$44,765.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,730.43
Annual Debt Service$716,765.14
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