Updated Oct 28, 2024
Flux Factory Inc. Acquires Industrial Property In Long Island City For $4M
39-31 29th Street, Long Island City, NY, USA
$4,000,000
$603/SF
Building Size
6,633 SF
Asset Type
Industrial
Closing
Jul 8, 2020
About this deal
AI
A 6,633 square foot industrial property located at 39-31 29th Street in Long Island City has been sold for a price of $4,000,000. The property was purchased by Flux Factory Inc., represented by James Roche, while the seller was Alfred Mainzer Inc. The transaction took place on July 8, 2021.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $4,000,000
- Address: 39-31 29th Street, Long Island City
- Buyer: Flux Factory Inc. - James Roche
- Seller: Alfred Mainzer Inc.
James Roche from Flux Factory Inc. represented the buyer in the deal, while Alfred Mainzer Inc. acted as the seller. The property has a price per square foot of $603.
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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93