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34-37 37th Street, Astoria,...

Storage Deluxe Acquires Industrial Property In Astoria For $20M
SOLDIndustrial

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

Steven Guttman

Storage Deluxe

Buyer

$96.6M

vol

4 deals

Buyer
SD
Storage DeluxeBuyer

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