East End Capital Acquires Industrial Property In Sunnyside, Queens For $41.7M
SOLD
$41,700,000
+ 1
New York
See Similar DealsIndustrial143,600 SF
Sold 01/18/2022
SOLD
East End Capital Acquires Industrial Property In Sunnyside, Queens For $41.7M
48-02 48th Avenue, Queens, New York 11377, United States
See Similar DealsIndustrial143,600 SF
Sold 01/18/2022
+ 1
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$290
Total Square Footage:143,600 SF
Transaction Type:Sale
East End Capital has acquired an industrial property in Sunnyside, Queens for a total of $41,700,000. The property, located at 48-02 48th Avenue & 48-15 50th Avenue, spans a total of 143,600 square feet. The transaction took place on January 18, 2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $41,700,000
- Address: 48-02 48th Avenue & 48-15 50th Avenue
- Market: Sunnyside, Queens
- Buyer: East End Capital
- Seller's Representative: David Schechtman, Lipa Lieberman & Abie Kassin - Meridian Capital Group
- Lender: MSD
- Loan Brokers: Ronnie Levine & Ben Jacobs - Meridian Capital Group
- Loan Amount: $34,000,000
- Loan Type: Acquisition Loan
The deal was facilitated by David Schechtman, Lipa Lieberman, and Abie Kassin from Meridian Capital Group, representing the buyer. Ronnie Levine and Ben Jacobs from Meridian Capital Group acted as the brokers for the lender, MSD.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,224,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$148,151.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$197,679.27
Annual Debt Service$2,372,151.29
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