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38-09 43rd Avenue, Queens, ...

Stephen R. Preuss Sr., Andreas Efthymiou & Joshua Kleinberg Sell Sunnyside Office For $20M
SOLDIndustrial

Stephen R. Preuss Sr., Andreas Efthymiou & Joshua Kleinberg Sell Sunnyside Office For $20M

38-09 43rd Avenue, Queens, New York 11377, United States

$20,000,000

Building Size

Asset Type

Industrial

Closing

Dec 21, 2021

AI

An office property located at 38-09 43rd Avenue in Sunnyside has been sold for a price of $20,000,000. The property spans across 72,000 square feet, resulting in a price per square foot of $277. The sale took place on December 21, 2021, with Stephen R. Preuss Sr., Andreas Efthymiou, and Joshua Kleinberg representing the seller.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $20,000,000
  • Address: 38-09 43rd Avenue
  • Market: Sunnyside
  • Square Footage: 72,000
  • Price per Square Foot: $277
  • Seller's Representatives: Stephen R. Preuss Sr., Andreas Efthymiou, & Joshua Kleinberg

The individuals who facilitated the transaction were Stephen R. Preuss Sr., Andreas Efthymiou, and Joshua Kleinberg. They represented the seller in this office property sale in Sunnyside. The deal concluded on December 21, 2021, with a sale price of $20,000,000 and a total area of 72,000 square feet at a price per square foot of $277.

Players

Andreas Efthymiou

Ripco

Broker

$1.1B

vol

131 deals

Broker
David Oheb
Verified Badge

David Oheb

Meridian Capital Group

Broker

$821.5M

vol

77 deals

Broker
New York Community Bank
New York Community BankLender

New York Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.79%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93