Heesuk Kim Acquires Industrial Property In LIC/Queens For $2.64M
37-28 27th St, Long Island City, NY 11101, USA
$2,640,000
$52/SF
Building Size
50,000 SF
Asset Type
Industrial
Closing
Jan 28, 2019
AI
The industrial property located at 37-28 27th Street in LIC/Queens was recently sold in a closed transaction. The property spans 5,000 square feet and was sold for a sale price of $2,640,000, resulting in a price per square foot of $528. The sellers of the property were Andrew Fein & David Shenfeld, represented by @DA_Development_Group. The buyer of the property was Heesuk Kim.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $2,640,000
- Address: 37-28 27th Street
- Market: LIC/Queens
- Square Footage: 5,000
Representing the sellers in this transaction were Jonathan Eshaghian and Jakub Nowak from Marcus & Millichap. It is worth noting that this sale took place earlier this year.
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
6.01%
Cash-on-Cash
-1.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93