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151-03 94th Avenue

Asif Khan Acquires Industrial Property From Novel Kitchens Inc For $2.2M In Jamaica
SOLDIndustrial

Asif Khan Acquires Industrial Property From Novel Kitchens Inc For $2.2M In Jamaica

151-03 94th Avenue

$2,200,000

$275/SF

Building Size

8,000 SF

Asset Type

Industrial

Closing

Jul 29, 2026

AI

The asset involved in this transaction is an industrial property located at 151-03 94th Avenue in Jamaica. The sale was completed at a price of $2,200,000, covering a total square footage of 8,000. The price per square foot stands at $275.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $2,200,000
  • Square Footage: 8,000
  • Price per Square Foot: $275
  • Buyer: Asif Khan
  • Seller: Novel Kitchens, Inc.
  • Date of Transaction: 07/29/2026
  • Brokers Involved: Eli Roerden & Bobby Lawrence - Matthews

The deal involved key individuals including buyer Asif Khan and seller Novel Kitchens, Inc., with representation from brokers Eli Roerden and Bobby Lawrence of Matthews, who facilitated the transaction.

Players

Bobby Lawrence

Matthews

Broker

$86.5M

vol

27 deals

Broker

Jamaica 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

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93