Updated Dec 21, 2023
Daguang Gao Acquires Maspeth Warehouse From Frank Festa For $4.7M
60-85 Flushing Avenue, Queens, New York 11378, United States
$4,700,000
$356/SF
Building Size
13,181 SF
Asset Type
Industrial
Closing
Nov 29, 2021
About this deal
AI
A warehouse located at 60-85 Flushing Avenue in Maspeth, Queens has been sold for $4,700,000. The property has a building square footage (BSF) of 21,929 and a price per building square footage (PPBSF) of $214. The total square footage (SF) of the warehouse is 13,181, with a price per square foot (PPSF) of $357. The lot size is 16,244 square feet, with dimensions of 80 ft x 107 ft. The property is zoned as R5B and C1-3.
Summary of transation details
- Property Type: Warehouse
- Transaction Amount: $4,700,000
- Market: Maspeth, Queens
- Zoning: R5B, C1-3
- BSF: 21,929
- PPBSF: $214
- SF: 13,181
- PPSF: $357
- Lot Size: 16,244
- Lot Dimension: 80 ft x 107 ft
The buyer of the property is Daguang Gao, while the seller is Frank Festa.
Players
New York Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Deal FAQ
Browse New York industrial sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.38%
Cash-on-Cash
-0.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93