Updated Nov 28, 2024
Prologis Acquires Industrial Properties In Flushing For $48.2M
57-00 47th Street, Queens, New York 11378, United States
$48,200,000
$287/SF
Building Size
167,570 SF
Asset Type
Industrial
Closing
Dec 30, 2021
About this deal
AI
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.
On the Map
$48,200,000
$287/SF
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
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93