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Yosef Rabinowitz Of Liberty One Group Purchases Industrial Building From Ciro Intini For $8M
SOLD
$8,000,000
New York
See Similar DealsIndustrial15,678 SF
Sold 08/27/2024
SOLD
Yosef Rabinowitz Of Liberty One Group Purchases Industrial Building From Ciro Intini For $8M
55-03 Flushing Avenue
See Similar DealsIndustrial15,678 SF
Sold 08/27/2024
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$510
Total Square Footage:15,678 SF
Transaction Type:Sale
A 15,678-square-foot industrial building located at 55-03 Flushing Avenue in Maspeth, Queens, has been sold for $8 million. The property was acquired at a price of $510 per square foot. The sale was finalized on August 27, 2024, with a total building square footage of 15,999 square feet.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $8,000,000
- Buyer: Yosef Rabinowitz - Liberty One Group
- Seller: Ciro Intini - DNJ Mechanical
- Building Square Footage: 15,678
- Price per Square Foot: $510
Yosef Rabinowitz of Liberty One Group is responsible for the purchase, which follows their previous acquisition of a Yorkville storage building for $9.5 million. Ciro Intini represented DNJ Mechanical in the sale of the Maspeth property.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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