Silverman Group Acquires Long Island Industrial Portfolio From Sherwood Equities For $76M
95-99 Sherwood Avenue
$76,000,000
$204/SF
Building Size
372,000 SF
Asset Type
Industrial
Closing
Aug 10, 2022
AI
The industrial property located at 95-99 Sherwood Ave., 1636-1640 New Highway, 1642-1646 New Highway, 216-218 Sherwood Ave., 25-33 Dubon Court, 42-46 Central Ave., 1219–1235 Walt Whitman Road, 226–232 Sherwood Ave., and 148–175 Milbar Blvd in Long Island has been sold.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $76,000,000
- Square Footage: 372,000 SF
- Price Per Square Foot: $204
- Market: Long Island
The buyer of the property was the Silverman Group, while the seller was Sherwood Equities. The sale was facilitated by the brokers Adam Spies, Gary Gabriel, Adam Doneger, Kyle Schmidt, and Rachel Humphrey from Cushman & Wakefield.
The industrial property was acquired for a total price of $76,000,000, with a square footage of 372,000. The transaction had a price per square foot of $204. The location of the property is in Long Island, a prominent market for industrial assets.
Players
Sherwood 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93