Updated Dec 4, 2024
1370 William Street Property LLC Acquires Industrial Warehouse In Cheektowaga For $6.5M
3500 Genesee Street
$6,500,000
$50/SF
Building Size
129,344 SF
Asset Type
Industrial
Closing
Jul 16, 2024
About this deal
AI
An industrial warehouse located at 3500 Genesee Street in Cheektowaga, NY, has been sold for $6.5 million. The property spans a total of 129,344 square feet, with a price per square foot of $50.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $6,500,000
- Address: 3500 Genesee Street
- Market: Cheektowaga
- Buyer: 1370 William Street Property LLC
- Buyer's Representative: Robert Cowing - Cushman & Wakefield
- Seller's Representative: Edward Mills - J.R.Militello Realty
The transaction involved 1370 William Street Property LLC acquiring the warehouse from Niagara Chocolates Inc., with Robert Cowing representing the buyer and Edward Mills representing the seller in this deal.
Players
Buffalo 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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93