John Corr Acquires Industrial Property In Hicksville For $12.05M With Brokers Michael Gronenthal & John Abbate - Douglas Elliman
SOLD
$12,050,000
New York
See Similar DealsIndustrial67,000 SF
Sold 09/21/2023
SOLD
John Corr Acquires Industrial Property In Hicksville For $12.05M With Brokers Michael Gronenthal & John Abbate - Douglas Elliman
85 Bloomingdale Road
See Similar DealsIndustrial67,000 SF
Sold 09/21/2023
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$179
Total Square Footage:67,000 SF
Transaction Type:Sale
An industrial property located at 85 Bloomingdale Road in Hicksville has been sold for a price of $12,050,000. The property spans across 67,000 square feet, translating to a price per square foot of $180. The transaction took place on September 21, 2023.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $12,050,000
- Address: 85 Bloomingdale Road, Hicksville
- Square Footage: 67,000
- Price per Square Foot: $180
John Corr has purchased the property from the Brody Family. The deal was facilitated by Michael Gronenthal and John Abbate from Douglas Elliman, who represented both the buyer and the seller as brokers in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$642,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,811.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$57,123.15
Annual Debt Service$685,477.77
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