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Storage Deluxe Acquires Industrial Property In Astoria For $20M

Property Image
SOLD
$20,000,000

New York

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Industrial53,500 SF
Sold 08/26/2021
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Property Image
SOLD

Storage Deluxe Acquires Industrial Property In Astoria For $20M

34-37 37th Street, Astoria, NY, USA

See Similar Deals
Industrial53,500 SF
Sold 08/26/2021
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$373
Total Square Footage:53,500 SF
Transaction Type:Sale

The industrial property located at 34-37 37th Street in Astoria has been sold for $20,000,000. The transaction took place on August 26, 2021, and the property is zoned as M1-5. The building has a total square footage of 53,500, with a price per square foot of $373. The buyer of the property is Storage Deluxe, represented by Steven Guttman and Daniel Alvarez. The seller is Steve Poliseno. The property is situated on a lot with dimensions of 125 feet by 200 feet. Notably, it is adjacent to the Museum of the Moving Image and Kaufman Studios.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: $20,000,000
  • Market: Astoria
  • Address: 34-37 37th Street
  • Zoning: M1-5
  • Buyer: Storage Deluxe - Steven Guttman & Daniel Alvarez
  • Seller: Steve Poliseno
  • Square Footage: 53,500
  • Price per Square Foot: $373
  • Lot Dimensions: 125 ft x 200 ft

The deal was facilitated by Steven Guttman and Daniel Alvarez, representing Storage Deluxe. Their involvement highlights their expertise in the industrial property market in Astoria.

Players

4 deals$96.6M volume
BUYER

BUYER

Details

SOLD
IMAGE: Daniel Alvarez & Steven Guttman DATE: 08/26/2021 ADDRESS: 34-37 37th Street MARKET: Astoria ASSET TYPE: Industrial ~ ZONING: M1-5 BUYER: Storage Deluxe 📦- Steven Guttman & Daniel Alvarez SELLER: Steve Poliseno SALE PRICE: $20,000,000 BSF: 125,000 ~ PPBSF: $160 SF: 53,500 ~ PPSF: $373 LOT DIMENSIONS: 125 ft x 200 ft NOTE: The property neighbors the Museum of the @MovingImageNYC, & @KaufmanStudios 🎥 🎞

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,066,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44