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Cushman & Wakefield Brokers $3.2M Sale Of Industrial Asset In Woodside

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SOLD
$3,200,000

New York

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Industrial6,200 SF
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SOLD

Cushman & Wakefield Brokers $3.2M Sale Of Industrial Asset In Woodside

3755 61st St, Queens, NY, 11377

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Industrial6,200 SF
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$516
Total Square Footage:6,200 SF
Transaction Type:Sale

The industrial asset located at 3755 61st St, Queens, NY, 11377 in the Woodside neighborhood of Queens was sold for $3,200,000.00. The property spans 6,200 square feet and includes office space. The deal was facilitated by Rani Bendary and Stephen R. Preuss Sr. of Cushman & Wakefield, representing private investors on both sides. A notable feature of the site is its potential for future expansion, allowing for an additional 9,600 square feet.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $3,200,000.00
  • Market: Woodside
  • Buyer's Representative: Rani Bendary (Cushman & Wakefield), Stephen R. Preuss Sr. (Ripco)
  • Seller: Unknown
  • SF: 6,200

The $3.2 million sale of the industrial asset at 3755 61st St was brokered by Stephen Preuss and Rani Bendary of Cushman & Wakefield, who represented private investors. The deal showcases the expertise and negotiation skills of these professionals in the real estate market, ensuring a successful transaction for both parties involved. The site's potential for future expansion adds further value to the property, making it an attractive investment opportunity in the Woodside neighborhood of Queens.

Players

Rani Bendary
8 deals$20.6M volume
BROKER

Stephen R. Preuss Sr.
Ripco
258 deals$2B volume(718) 663-2639
BROKER

Details

SOLD
IMAGE: 3755 61st St, Queens, NY, 11377 MARKET: Woodside ASSET TYPE: Industrial BUYER'S REP: Rani Bendary(Cushman & Wakefield), Stephen R. Preuss Sr.(Ripco) BUYER: Unknown SELLER: Unknown PRICE: $3,200,000.00 SF: 6200

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$170,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,368.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.63
Annual Debt Service$182,035.59