Updated Oct 29, 2024
HW LIC One LLC Acquires Industrial Property In Flushing, Queens For $15M
51-02 Roosevelt Ave, Flushing, NY 11377, USA
Building Size
209,600 SF
Asset Type
Industrial
Closing
Feb 25, 2018
About this deal
AI
The industrial property located at 51-02 Roosevelt Avenue in Flushing, Queens, New York has been sold for $15,000,000. The property spans a total of 20,960 square feet. The building is measured at 53,000 square feet in size and the price per square foot is $283.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $15,000,000
- Size: 20,960 square feet
- Building Size: 53,000 square feet
- Price per square foot: $283
The seller of the property is June & Youn Realty Corporation. The buyer, HW LIC One LLC, is represented by Fanggang Wang.
It is worth noting that the property's community facility allowance allows for the construction of an additional 104,000 square feet.
On the Map
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93