Storage Deluxe Acquires Industrial Property In Astoria For $20M
34-37 37th Street, Astoria, NY, USA
$20,000,000
$373/SF
Building Size
53,500 SF
Asset Type
Industrial
Closing
Aug 26, 2021
AI
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
Astoria 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93