73RD Realty LLC Acquires Industrial Property In Queens From Howard Opper For $1.15M
SOLD
$1,150,000
New York
See Similar DealsIndustrial5,000 SF
Sold 11/18/2021
SOLD
73RD Realty LLC Acquires Industrial Property In Queens From Howard Opper For $1.15M
71-34 73rd Place, Ridgewood, NY, USA
See Similar DealsIndustrial5,000 SF
Sold 11/18/2021
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$230
Total Square Footage:5,000 SF
Transaction Type:Sale
A 5,000 square foot industrial property located at 71-34 73rd Street in Queens has been sold and financed. The transaction was completed on November 18, 2021.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $1,150,000
- Address: 71-34 73rd Street, Queens
- Market: Queens
The buyer, 73RD Realty LLC, represented by Israel Fisher, acquired the property from the seller, Howard Opper. The deal was facilitated by broker Joe Hach from Leviathan Capital. The purchase price for the property was $1,150,000.
Adam Sabella from Stony Clove Capital provided the financing for the transaction in the form of a bridge loan. The loan amount extended was $805,000.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$61,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,085.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,451.59
Annual Debt Service$65,419.04
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