Alexander Kostovasky Acquires Industrial Property In Hunters Point, Queens For $6.72M
SOLD
$6,720,000
New York
See Similar DealsIndustrial12,500 SF
Sold 12/18/2020
SOLD
Alexander Kostovasky Acquires Industrial Property In Hunters Point, Queens For $6.72M
5-17 47th Road, Hunters Point, Queens County, NY, USA
See Similar DealsIndustrial12,500 SF
Sold 12/18/2020
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$537
Total Square Footage:12,500 SF
Transaction Type:Sale
A warehouse property located at 5-17 47 Road in Hunters Point, Queens, was recently sold in a closed transaction. The industrial asset is zoned as M1-4/R6B and is situated in the LIC area.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $6,720,000
- Address: 5-17 47 Road, Hunters Point, Queens
- Market: LIC
- Lot Size: 75 ft x 100 ft
The buyer of the property was Alexander Kostovasky, while the seller was identified as Ronald Sloop. The transaction was completed on 12/18/2020.
The warehouse has a building square footage (BSF) of 20,000, resulting in a price per BSF (PPBSF) of $336. Additionally, the property has a total square footage (SF) of 12,500, with a price per square foot (PPSF) of $538.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$358,399.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,874.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,856.23
Annual Debt Service$382,274.74
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