Charles Lin Acquires Industrial Asset From Arkwin Industries For $3.18M With Michael Gronenthal As Buyer's Rep
SOLD
$3,180,164
New York
See Similar DealsIndustrial12,508 SF
Sold 06/25/2025
SOLD
Charles Lin Acquires Industrial Asset From Arkwin Industries For $3.18M With Michael Gronenthal As Buyer's Rep
33 Sylvester Avenue
See Similar DealsIndustrial12,508 SF
Sold 06/25/2025
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$254
Total Square Footage:12,508 SF
Transaction Type:Sale
The asset involved in this transaction is an industrial property located at 33-35 Sylvester St. in the Westbury market. The sale was completed with a total transaction amount of $3,180,164 for a space measuring 12,508 square feet, equating to a price per square foot of $254.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,180,164
- Address: 33-35 Sylvester St.
- Market: Westbury
- Square Footage: 12,508
- Price per Square Foot: $254
- Buyer: Charles Lin
- Seller: Arkwin Industries
- Buyer's Representative: Michael Gronenthal - Douglas Elliman
Michael Gronenthal from Douglas Elliman represented the buyer, Charles Lin, in this transaction with the seller being Arkwin Industries. The deal reflects an important exchange in the industrial sector within the Westbury market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$169,608.76
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,298.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,075.60
Annual Debt Service$180,907.20
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