Updated Jun 30, 2025
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
About this deal
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.
On the Map
$3,180,164
$254/SF
Industrial
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Players
Westbury 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
4.99%
Cash-on-Cash
-1.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93