Updated Dec 4, 2024
Boota Khan Purchases Industrial Space From Nicholas Cola In Long Island City For $2M
40-11 23rd Street
$2,000,000
$800/SF
Building Size
2,500 SF
Asset Type
Industrial
Closing
Aug 12, 2024
About this deal
AI
An industrial asset located at 40-11 23rd Street in Long Island City has been sold for $2,000,000. The property encompasses 2,500 square feet, with a price per square foot of $800. Additionally, there is a repair shop space and second floor available for lease within the community facility.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,000,000
- Buyer: Boota Khan
- Seller: Nicholas Cola
- Broker: Dalshad Ali - Realtegrity
- Square Footage: 2,500
- Price Per Square Foot: $800
- Date of Transaction: 08/12/2024
- Market: Long Island City
The transaction involved Boota Khan as the buyer and Nicholas Cola as the seller, facilitated by broker Dalshad Ali through Realtegrity. According to the broker's note, the property was sold by the specified broker account, highlighting the completed sale in Long Island City.
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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93