Updated Sep 9, 2024
Meridian Capital Group Brokers $7.2M Industrial Sale In Queens
97-25 Beach Channel Drive
$7,200,000
$160/SF
Building Size
44,936 SF
Asset Type
Industrial
Closing
Nov 4, 2022
About this deal
AI
Located at 97-25 Beach Channel Drive in Queens, this industrial property was recently sold for a price of $7,200,000. With a total square footage of 44,936, the property was valued at a price per square foot (PPSF) of $160. The transaction took place on November 4, 2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $7,200,000
- Square Footage: 44,936
- Price per Square Foot (PPSF): $160
- Address: 97-25 Beach Channel Drive, Queens
- Market: Queens
Playing crucial roles in facilitating this deal were the brokers from the Meridian Capital Group, namely David Schechtman, Abie Kassin, and Lipa Lieberman. Representing the buyer and the seller, their expertise and negotiations were instrumental in the successful completion of this transaction.
Players
New York 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
2.20%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93