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38-38 Crescent Street

Seamus Kennedy Acquires Industrial Property In Long Island City For $2.1M
SOLDIndustrial

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

Alexandre Goulet

Landair Advisors

Broker

$163.2M

vol

45 deals

Broker

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