Aahu Barah Acquires Industrial Building In Hicksville From Jonathan Lee For $5.15M
70 Commerce Street
$5,150,000
$286/SF
Building Size
18,000 SF
Asset Type
Industrial
Closing
May 7, 2025
AI
Aahu Barah, an Afghan and Central Asian food distributor, purchased an 18,000-square-foot industrial building located at 70 Commerce Street in Hicksville for $5.15 million. The acquisition was made to support the company's expansion of its operations within Long Island.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $5,150,000
- Square Footage: 18,000
- Price Per Square Foot: $286
- Buyer: Aahu Barah
- Seller: Jonathan Lee
- Brokers: Gary Chimeri & Michael Berndt - Paramount Properties Group
- Market: Hicksville
The transaction was facilitated by brokers Gary Chimeri and Michael Berndt from Paramount Properties Group, representing the parties involved in the deal. This acquisition aligns with Aahu Barah's strategy to enhance its operational capacity in the region.
Players
Hicksville 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
3.08%
Cash-on-Cash
-0.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93