Updated Dec 21, 2023
Vichai Charalaivan Acquires Industrial Property In Maspeth For $18M
59-20 56th Avenue, Queens, New York 11378, United States
$18,000,000
$494/SF
Building Size
36,400 SF
Asset Type
Industrial
Closing
Jul 4, 2022
About this deal
AI
The industrial property located at 59-20 56th Avenue in Maspeth was recently sold for $18,000,000. This property spans 36,400 square feet, resulting in a price per square foot of $494.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $18,000,000
- Address: 59-20 56th Avenue, Maspeth
- Market: Maspeth
- Buyer: Vichai Charalaivan
- Seller: Manny Tzvellis
Vichai Charalaivan was the buyer of this industrial property, while Manny Tzvellis acted as the seller. The transaction took place on July 5, 2022, marking a successful deal in the Maspeth market.
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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93