Meridian Capital Group Brokers $7.2M Industrial Sale In Queens
SOLD
$7,200,000
New York
See Similar DealsIndustrial44,936 SF
Sold 11/04/2022
SOLD
Meridian Capital Group Brokers $7.2M Industrial Sale In Queens
97-25 Beach Channel Drive
See Similar DealsIndustrial44,936 SF
Sold 11/04/2022
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$160
Total Square Footage:44,936 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$384,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,580.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,131.67
Annual Debt Service$409,580.08
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