Updated Dec 4, 2024
Saul Maslavi Acquires Industrial Building In Rockaway Beach, Queens For $9.3M
97 Beach Channel Drive
$9,300,000
$212/SF
Building Size
43,800 SF
Asset Type
Industrial
Closing
Sep 11, 2023
About this deal
AI
An industrial building located at 97-01 Beach Channel Drive in Rockaway Beach, Queens has been sold for $9.3 million. The property spans 44,936 square feet with a price per square foot of $208. It was purchased by Saul Maslavi, represented by Jeffrey Homapour, from Yehuda Abboudi, represented by Michael Khodadadi.
Summary of transaction details
- Property Type: Industrial
- Sale Price: $9,350,000
- Building Square Footage: 44,936
- Price per Square Foot: $208
- Address: 97-01 Beach Channel Drive
- Market: Rockaway Beach, Queens
- Buyer: Saul Maslavi
- Seller: Yehuda Abboudi
Jeffrey Homapour acted as the buyer's representative for Saul Maslavi in this transaction. Michael Khodadadi, on the other hand, represented Yehuda Abboudi as the seller's representative. The property at 97-01 Beach Channel Drive presents an opportunity for industrial development in the Rockaway Beach area.
On the Map
$9,300,000
$212/SF
Industrial
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Players
Far Rockaway 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
1.71%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93