Leah Chen Acquires Industrial Asset From Sidney Mandel In Long Island City For $2.25M
SOLD
$2,250,000
New York
See Similar DealsIndustrial5,000 SF
Sold 03/06/2025
SOLD
Leah Chen Acquires Industrial Asset From Sidney Mandel In Long Island City For $2.25M
38 03 24th Street
See Similar DealsIndustrial5,000 SF
Sold 03/06/2025
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$450
Total Square Footage:5,000 SF
Transaction Type:Sale
The asset involved in this transaction is an industrial property located at 38 03 24th Street in Long Island City. The property was sold for $2,250,000.00 and has a total square footage of 5000.0.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,250,000.00
- Address: 38 03 24th Street
- Market: Long Island City
- Buyer: Leah Chen
- Seller: Sidney Mandel
Leah Chen acted as the buyer in the transaction, while Sidney Mandel served as the seller. For further information about Western Queens real estate, contact Modern Spaces, which is currently marketing over $200 million in commercial and investment property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$120,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,993.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,666.15
Annual Debt Service$127,993.77
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