Titan Industrial Services Acquires Office & Industrial Buildings In Maspeth, Queens For $4M
66-00 Long Island Expressway
$4,000,000
$266/SF
Building Size
15,000 SF
Asset Type
Industrial
Closing
May 18, 2023
AI
Titan Industrial Services, represented by Anna Casalino of Bayberry Properties, Inc., has purchased three properties in Maspeth, Queens. The properties include an office building and two industrial buildings, with a combined built space of 15,000 square feet. The transaction closed on May 18, 2023, for a total of $4 million.
Summary of transaction details
- Property Type: Office & Industrial
- Transaction Amount: $4,000,000
- Address: 66-00 Queens Midtown Expressway Sr South, 66-10 Perry Avenue & 66-12 Perry Avenue
- Market: Maspeth, Queens
This acquisition enables Titan Industrial Services to expand its presence in Maspeth, Queens, and enhance its operations with the additional office and industrial spaces. The properties also come with 6,679 square feet of air rights, allowing for future development opportunities. With this strategic investment, Titan Industrial Services is well-positioned to meet the growing demand in the area.
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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93