Updated Dec 30, 2024
Terreno Realty Acquires Industrial Asset From Werwaiss Properties In Long Island City For $7.6M
48-29 31st Place
$7,600,000
$452/SF
Building Size
16,800 SF
Asset Type
Industrial
Closing
Dec 5, 2024
About this deal
AI
The property asset involved in the transaction is an industrial space located at 48-29 31st Place in Long Island City. The sale price was $7,600,000, with a total square footage of 16,800, resulting in a price per square foot of $452.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $7,600,000
- Buyer: Terreno Realty
- Seller: Werwaiss Properties
- Broker: Evan Daniel - Modern Spaces
- Date of Transaction: 12/05/2024
Evan Daniel, representing Modern Spaces, exclusively handles sales for sellers in Western Queens, providing expertise in the Long Island City, Astoria, and Sunnyside real estate markets.
On the Map
$7,600,000
$452/SF
Industrial
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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
2.09%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93