Greg Goodman Acquires Long Island City Industrial Property For $130M
4040 Northern Boulevard, Long Island City, NY 11101, USA
$130,000,000
$185/SF
Building Size
700,000 SF
Asset Type
Industrial
Closing
Dec 2, 2021
AI
Located in Long Island City, the industrial property at 4040 Northern Boulevard has been sold in a recent transaction. The property spans approximately 700,000 square feet, with a sale price of $130,000,000, resulting in a price per square foot of $185.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $130,000,000
- Address: 4040 Northern Boulevard
- Market: Long Island City
Greg Goodman successfully acquired the property as the buyer, while Michael Jons acted as the seller. The seller was represented by Brett Siegel, Evan Layne, and Brian Schulz from Newmark during the transaction.
Players
Long Island City 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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93