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Gabriel Blanco Acquires Industrial Property From John Vasilantonakis And Nicholas Melis For $4M In Corona
SOLD
$4,000,000
New York
See Similar DealsIndustrial500 SF
Sold
SOLD
Gabriel Blanco Acquires Industrial Property From John Vasilantonakis And Nicholas Melis For $4M In Corona
50-25 97th Place
See Similar DealsIndustrial500 SF
Sold
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$8000
Total Square Footage:500 SF
Transaction Type:Sale
50-25 97th Place is an industrial property located in Corona, Queens. It was sold for $4 million, translating to $8,000 per square foot, with a total area of 500 square feet.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $4,000,000
- Address: 50-25 97th Place
- Market: Corona, Queens
- Buyer: Gabriel Blanco
- Seller: John Vasilantonakis & Nicholas Melis
- Sale Date: 02/26/2026
- Square Footage: 500
- Price per Square Foot: $8,000
Gabriel Blanco acquired the property from sellers John Vasilantonakis and Nicholas Melis, facilitating a significant transaction in the industrial market of Queens.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49
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