Updated Sep 11, 2026
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
$5,900,000
$208/SF
Building Size
14,160 SF
Asset Type
Industrial
Closing
Sep 29, 2022
About this deal
AI
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.
On the Map
$5,900,000
$208/SF
Industrial
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Players
New York 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
2.69%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93