Mark Fayer Acquires Industrial Property In Maspeth For $12.5M With Buyer’s Rep Tomas Shleiwet
44 21 54th Drive, 44 17 54th Drive & 44 18 54th Road
$12,500,000
$347/SF
Building Size
36,000 SF
Asset Type
Industrial
Closing
Jan 29, 2025
AI
This transaction involves an industrial asset located at 44-21 54th Drive, 44-17 54th Drive & 44-18 54th Road in the Maspeth market. The property has a sale price of $12,500,000, encompassing 12,000 square feet of building space and an additional 18,000 square feet of land.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $12,500,000
- Square Footage: 12,000
- Price Per Square Foot: $1,041
- Buyer: Mark Fayer
- Seller: Enrico Manetta
- Buyer's Representative: Tomas Shleiwet - Greiner-Maltz Real Estate
- Seller's Representative: Mathew Diana - DY Realty Group
In this transaction, Mathew Diana of DY Realty Group acted as the exclusive agent for the seller, while Tomas Shleiwet of Greiner-Maltz represented the buyer, facilitating the successful sale of the property.
Players
Maspeth 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
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93