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70-09 73rd Pl Queens, NY 11...

Mark Koplowitz Acquires Glendale Industrial Property From Ed Erhardt & Billie Barbash For $5.85M
SOLDIndustrial

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

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].

Players

Brian Sarath
Verified Badge

Brian Sarath

Cushman & Wakefield

Broker

$125.2M

vol

10 deals

Broker

Mark Koplowitz

Buyer

$24M

vol

7 deals

Buyer

New York Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

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