Updated Sep 9, 2024
Mark Koplowitz Acquires Glendale Industrial Property From Ed Erhardt & Billie Barbash For $5.85M
70-09 73rd Pl Queens, NY 11385, USA
$5,850,000
$269/SF
Building Size
21,700 SF
Asset Type
Industrial
Closing
Jun 29, 2023
About this deal
AI
Located at 70-09 73rd Place in Glendale, Queens, this industrial property was recently sold for $5,850,000. The property consists of a 21,700 sq. ft. warehouse and office building with 2 loading docks, 2 drive-in doors, and a freight elevator. The ceiling heights range from 10 to 16 feet throughout the building. Additionally, the property boasts 17,000 sq. ft. of additional parking and outdoor storage space.
Summary of transaction details
- Property Type: Industrial
- Sale Price: $5,850,000
- Square Footage: 21,700
Mark Koplowitz purchased the property from Ed Erhardt and Billie Barbash. The transaction was facilitated by Brian Sarath from Cushman & Wakefield. For more information about this sale or to inquire about the value of your property, please contact Brian Sarath at 718-215-1500 or [email protected].
On the Map
$5,850,000
$269/SF
Industrial
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Players
Queens 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
2.71%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93