Storage Post Self Storage Acquires Industrial Property In Morrisania For $65M
SOLD
$65,000,000
New York
See Similar DealsIndustrial138,000 SF
Sold
SOLD
Storage Post Self Storage Acquires Industrial Property In Morrisania For $65M
3350 Park Avenue, New York City, New York 10456, United States
See Similar DealsIndustrial138,000 SF
Sold
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$471
Total Square Footage:138000 SF
Transaction Type:Sale
3350 Park Avenue, located in Morrisania, was recently sold in a closed transaction. The property is an industrial asset with a total square footage of 130,000. The sale was conducted by Adam Gordon, representing the seller, Wildflower, to the buyer, Storage Post Self Storage. The transaction took place on 03/02/2022.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $65,000,000
- Units: 3,300
- Price per Unit: $19,696
- Price per Square Foot: $5,000
Storage Post Self Storage acquired the property for a total price of $65,000,000. The deal involved 3,300 units, resulting in a per unit price of $19,696. The cost per square foot was $5,000.
NOTE: No additional information was provided in the context.Players
BROKERAGE
LENDER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,466,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$230,931.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$308,133.16
Annual Debt Service$3,697,597.94
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