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33 Sylvester Avenue

Charles Lin Acquires Industrial Asset From Arkwin Industries For $3.18M With Michael Gronenthal As Buyer's Rep
SOLDIndustrial

Charles Lin Acquires Industrial Asset From Arkwin Industries For $3.18M With Michael Gronenthal As Buyer's Rep

33 Sylvester Avenue

$3,180,164

$254/SF

Building Size

12,508 SF

Asset Type

Industrial

Closing

Jun 24, 2025

AI

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.

Players

Michael Gronenthal

Douglas Elliman

Broker

$106.7M

vol

38 deals

Broker
Douglas Elliman
Douglas EllimanBrokerage

Westbury 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

4.99%

Cash-on-Cash

-1.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93