Brad Gruber Acquires Hauppauge, LI Industrial Property From Rubin Family For $7.35M
SOLD
New York
See Similar DealsIndustrial55,000 SF
Sold 02/28/2019
SOLD
Brad Gruber Acquires Hauppauge, LI Industrial Property From Rubin Family For $7.35M
50 Commerce Drive, Hauppauge
See Similar DealsIndustrial55,000 SF
Sold 02/28/2019
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$133
Total Square Footage:55,000 SF
Transaction Type:Sale
Located at 50 Commerce Dr in Hauppauge, LI, this industrial property was recently sold in a closed transaction. The property spans 55,000 square feet and was sold for a price of $7.35 million, resulting in a price per square foot of $133. The transaction took place on February 28, 2019.
Summary of transaction details:
- Property Type: Industrial
- Sale Price: $7.35 million
- Square Footage: 55,000
- Price Per Square Foot: $133
- Address: 50 Commerce Dr, Hauppauge, LI
The seller of the property was the Rubin Family, while the buyer was Brad Gruber. The deal was facilitated by Gary J Chimeri from Alliance Real Estate Corp and Howard Nemshin from Atlantic Properties acting as brokers representing the respective parties involved in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$391,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,113.00
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,842.75
Annual Debt Service$418,113.00
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