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.
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