Seamus Kennedy Acquires Industrial Property In Long Island City For $2.1M
38-38 Crescent Street
$2,100,000
$280/SF
Building Size
7,500 SF
Asset Type
Industrial
Closing
Aug 24, 2022
AI
Located at 38-38 Crescent St. in Long Island City, this industrial property was recently sold in a closed transaction. The property spans across 7,500 square feet, with a sale price of $2,100,000, resulting in a price per square foot of $280. The buyer, Seamus Kennedy, acquired the property from the seller, Julie Grzic.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $2,100,000
- Address: 38-38 Crescent St.
- Market: Long Island City
Matthew McMullen from Greiner Maltz represented the buyer, Seamus Kennedy, in this transaction. Alexandre Goulet from Landair Property Advisors acted as the seller's representative, representing Julie Grzic. For any industrial real estate needs, you can reach out to Matthew McMullen at [email protected] or call (718) 786-5050. To buy or sell a development site, you can contact Landair Property Advisors at [email protected] or call (646) 559-4700.
Players
Long Island City 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
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93