Updated Oct 29, 2024
MKPM Properties Acquires Industrial Property In Maspeth For $1.5M
59-27 55th St Queens, NY 11378, USA
$1,500,000
$600/SF
Building Size
2,500 SF
Asset Type
Industrial
Closing
Jul 7, 2023
About this deal
AI
An industrial property located at 59-27 55th Street in Maspeth has been sold for $1,500,000. Spanning 2,500 square feet, the property was acquired by MKPM Properties represented by Noah Fernando. The seller, Anthony Ballato, facilitated the transaction. The property is situated in the Maspeth market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $1,500,000
- Square Footage: 2,500
- Price per Square Foot: $600
In this deal, Daniel O'Brien, Dylan Walsh, and William Diana from Cushman & Wakefield acted as the brokers representing both the buyer and the seller. They played a crucial role in facilitating the transaction between MKPM Properties and Anthony Ballato.
On the Map
$1,500,000
$600/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
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93