Updated Nov 28, 2024
Prologis Acquires Warehouse In Maspeth, Queens For $42.7M With Hamid Moghadam
46-81 Metropolitan Ave, Maspeth, Queens, NY, USA
$42,736,600
$109/SF
Building Size
391,396 SF
Asset Type
Industrial
Closing
Jun 1, 1921
About this deal
AI
A warehouse located at 46-81 Metropolitan Ave in Maspeth, Queens has been sold. The property, with an interest of 68%, was purchased by Prologis, represented by Hamid Moghadam. The seller, J&R Metro, agreed to the transaction.
Summary of transaction details:
- Property Type: Warehouse
- Transaction Amount: $42,736,600
- Address: 46-81 Metropolitan Ave
- Market: Maspeth, Queens
- Interest: 68%
- Buyer: Prologis - Hamid Moghadam
- Seller: J&R Metro
- BSF: 391,396
- SF: 15,656
The previous sale of the property took place in June 2016, with a transaction amount of $23,000,000.
Players
Ridgewood 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
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93