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Peter Latta Acquires Industrial Property In Maspeth, Queens For $5.9M

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Jean LiuMathew (Mat) Diana

$5,900,000

SOLD
$5,900,000
Jean Liu
Mathew (Mat) Diana
PL

New York

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Industrial28,320 SF
Sold 09/29/2022
the dealplayerscompscontact
Traded Logo
Jean LiuMathew (Mat) Diana

$5,900,000

SOLD

Peter Latta Acquires Industrial Property In Maspeth, Queens For $5.9M

49-01 Grand Avenue, Queens, New York 11378, United States & 49-01 Grand Avenue

See Similar Deals
Industrial28,320 SF
Sold 09/29/2022
Jean Liu
Mathew (Mat) Diana
PL
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$208
Total Square Footage:28,320 SF
Transaction Type:Sale

The property asset involved in this transaction is located at 49-01 Grand Avenue, situated in the Maspeth market of Queens. This industrial asset spans a total area of 14,160 square feet and has been sold at a price of $5,900,000, translating to a price per square foot of $417.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $5,900,000
  • Address: 49-01 Grand Avenue
  • Market: Maspeth, Queens
  • Square Footage: 14,160
  • Price per Square Foot: $417
  • Buyer: Peter Latta
  • Seller: Haidong Weng
  • Broker Representatives: Mathew Diana & Jean Liu - DY Realty Group

The deal involved Peter Latta as the buyer and Haidong Weng as the seller, with Mathew Diana and Jean Liu representing DY Realty Group in the transaction, facilitating the sale of the industrial property.

Players

Mathew (Mat) Diana
DY Realty Group
Mathew Diana
19 deals$415.6M volume
BROKER
Jean Liu
Jean Liu
2 deals$8.3M volume
BROKER
PL
Peter Latta
2 deals$10.3M volume
BUYER

Details

SOLD
IMAGE: Mathew Diana DATE: 09/30/2022 ADDRESS: 49-01 Grand Avenue MARKET: Maspeth, Queens ASSET TYPE: Industrial BUYER: Peter Latta SELLER: Haidong Weng BROKERS: Mathew Diana & Jean Liu - DY Realty Group (@DyRealtyGroup) SALE PRICE: $5,900,000 SF: 14,160 ~ PPSF: $417

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$314,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,961.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,969.01
Annual Debt Service$335,628.12