Prologis Acquires Industrial Properties In Flushing For $48.2M
SOLD
$48,200,000
+ 1
New York
See Similar DealsIndustrial167,570 SF
Sold 12/30/2021
SOLD
Prologis Acquires Industrial Properties In Flushing For $48.2M
57-00 47th Street, Queens, New York 11378, United States
See Similar DealsIndustrial167,570 SF
Sold 12/30/2021
+ 1
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$287
Total Square Footage:167,570 SF
Transaction Type:Sale
The industrial properties located at 57-00 47th St., 58-20 47th St., 57-05 47th St., and 57-57 47th St. in Flushing have been sold in a recent transaction. The sale was facilitated by David Schechtman, Abie Kassin, Jonathan Birnbaum, and Lipa Lieberman from Meridian Investment Sales.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $48,200,000
- Square Footage: 167,570
- Price Per Square Foot: $287
Prologis, the buyer in this deal, acquired these industrial properties from Pebble Lane Associates. The transaction took place on December 30, 2021.
Players
BROKERAGE
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,570,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$171,244.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$228,492.59
Annual Debt Service$2,741,911.09
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