facebook
Traded Co logo
Submit

Ferrara Manufacturing Corp. Acquires Industrial Property In Long Island City For $8.4M

Property Image
SOLD
$8,400,000

New York

See Similar Deals
Industrial45,500 SF
Sold 08/19/2020
the dealplayerscompscontact
Property Image
SOLD

Ferrara Manufacturing Corp. Acquires Industrial Property In Long Island City For $8.4M

37-01 30th Ave, Long Island City, NY 11103, USA

See Similar Deals
Industrial45,500 SF
Sold 08/19/2020
Contact now

Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$184
Total Square Footage:45,500 SF
Transaction Type:Sale

Ferrara Manufacturing Corp., represented by Joseph Ferrara, has acquired an industrial property located at 37-01 30th Street in Long Island City. The property was sold by @SlatePropertyGroup for a transaction amount of $8,400,000. The building spans across 45,500 square feet, resulting in a price per square foot of $184.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $8,400,000
  • Address: 37-01 30th Street
  • Market: Long Island City

The buyer in this transaction was Ferrara Manufacturing Corp., with Joseph Ferrara representing the company. On the other side, @SlatePropertyGroup acted as the seller. The deal showcases the growing industrial market in Long Island City, with the property offering 45,500 square feet of space at a price per square foot of $184.

Players

3 deals$258.4M volume
BUYER

SELLER

Details

SOLD
IMAGE: IMAGE: David Schwartz & Martin Nussbaum DATE: 08/19/2020 ADDRESS: 37-01 30th Street MARKET: Long Island City ASSET TYPE: Industrial BUYER: Ferrara Manufacturing Corp. – Joseph Ferrara SELLER: @SlatePropertyGroup PRICE: $8,400,000 SF: 45,500 PPSF: $184

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$448,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$29,843.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,820.29
Annual Debt Service$477,843.43