Updated Dec 4, 2024
Stellar Management Acquires Industrial Property In Long Island City For $5M
35-01 36th Ave, Queens, NY 11106, USA
$5,000,000
$149/SF
Building Size
33,461 SF
Asset Type
Industrial
Closing
Sep 22, 2019
About this deal
AI
The industrial property located at 35-01 36th Avenue in Long Island City was recently sold in a closed transaction. The property, owned by the Rehns family, was purchased by Stellar Management for a price of $5,000,000. The total square footage of the property is 33,461, resulting in a price per square foot of $149.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $5,000,000
- Address: 35-01 36th Avenue, Long Island City
- Market: Long Island City
- Seller: The Rehns family
- Buyer: Stellar Management
- Square Footage: 33,461
- Price per Square Foot: $149
Stellar Management, a prominent real estate company, acted as the buyer in this transaction. The Rehns family, represented by their broker, facilitated the sale of the property to Stellar Management.
Players
New York 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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93