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36-19 33rd Street, Astoria,...

Kostas Alafoyiannis Acquires Industrial Property In Astoria, Queens From Elizabeth Poston
SOLDIndustrial

Kostas Alafoyiannis Acquires Industrial Property In Astoria, Queens From Elizabeth Poston

36-19 33rd Street, Astoria, Queens County, NY, USA

$3,500,000

$308/SF

Building Size

11,341 SF

Asset Type

Industrial

Closing

May 25, 2020

AI

An industrial property located at 36-19/21/23 33rd Street in Astoria, Queens has been sold for a price of $3,500,000. The property, which has a total square footage of 11,341, is zoned as M1-1. The buyer of the property is Kostas Alafoyiannis, while the seller is Elizabeth Poston. The transaction was facilitated by Thomas Donovan, Stephen Dadourian, and Jonathan Buerger from B6 Real Estate. The asking price for the property was $3,495,000, and the sale price reached $3,500,000. The price per square foot is $308 and the building square footage is 12,415 with a price per building square foot of $281.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $3,500,000
  • Address: 36-19/21/23 33rd Street, Astoria, Queens
  • Market: Astoria, Queens
  • Zoning: M1-1
  • Buyer: Kostas Alafoyiannis
  • Seller: Elizabeth Poston
  • Seller's Representatives: Thomas Donovan, Stephen Dadourian, and Jonathan Buerger from B6 Real Estate
  • Asking Price: $3,495,000
  • Building Square Footage: 12,415
  • Price per Building Square Foot: $281
  • Total Square Footage: 11,341
  • Price per Square Foot: $308

The sale of the property at 36-19/21/23 33rd Street in Astoria, Queens was finalized with a sale price of $3,500,000. Kostas Alafoyiannis acquired the industrial property from Elizabeth Poston. This deal was orchestrated by Thomas Donovan, Stephen Dadourian, and Jonathan Buerger from B6 Real Estate.

Players

Thomas Donovan

Meridian Capital Group

Broker

$730.7M

vol

51 deals

Broker

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

4.53%

Cash-on-Cash

-1.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93