Heesuk Kim Acquires Industrial Property In LIC/Queens For $2.64M
SOLD
$2,640,000
New York
See Similar DealsIndustrial50,000 SF
Sold 01/29/2019
SOLD
Heesuk Kim Acquires Industrial Property In LIC/Queens For $2.64M
37-28 27th St, Long Island City, NY 11101, USA
See Similar DealsIndustrial50,000 SF
Sold 01/29/2019
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$52
Total Square Footage:50,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$140,800.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,379.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,514.95
Annual Debt Service$150,179.36
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