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37-28 27th St, Long Island ...

Heesuk Kim Acquires Industrial Property In LIC/Queens For $2.64M
SOLDIndustrial

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

Jonathan Eshaghian

Isaacson Real Estate

Broker

$180.3M

vol

20 deals

Broker

David Shenfeld

DA Development Group

Seller

$2.6M

vol

2 deals

Seller

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