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David Cannizzaro Acquires Industrial Property From Seller Angela Lam In Long Island City For $3.3M

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SOLD
$3,300,000

New York

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Industrial10,400 SF
Sold 12/29/2025
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Property Image
SOLD

David Cannizzaro Acquires Industrial Property From Seller Angela Lam In Long Island City For $3.3M

39 06 Crescent Street

See Similar Deals
Industrial10,400 SF
Sold 12/29/2025
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$317
Total Square Footage:10,400 SF
Transaction Type:Sale

This industrial property is located at 39-06 Crescent Street in Long Island City, encompassing a total of 10,400 square feet. The property was sold for $3,300,000, equating to a price per square foot of $317. The building features flexible permitted uses, high ceilings, curb cuts, legal parking, and potential for future development.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $3,300,000
  • Address: 39-06 Crescent Street
  • Market: Long Island City
  • Square Footage: 10,400
  • Price Per Square Foot: $317
  • Buyer: David Cannizzaro
  • Seller: Angela Lam
  • Seller's Representative: Alex Woodlief & Konstantinos Soulios - B6 Real Estate Advisors

B6 Real Estate Advisors exclusively represented the seller and successfully procured a direct buyer for this transaction. The deal highlights the expertise of the brokers in facilitating sales in the industrial real estate sector.

Players

Alex Woodlief
6 deals$86.4M volume(646) 933-2677
BROKER

Konstantinos Soulios
B6 Real Estate Advisors
1 deal$4.8M volume
BROKER

Details

SOLD
IMAGE: Alex Woodlief & Konstantinos Soulios DATE: 12/29/2025 ADDRESS: 39-06 Crescent Street MARKET: Long Island City ASSET TYPE: Industrial BUYER: David Cannizzaro SELLER: Angela Lam SELLER'S REP: Alex Woodlief (@nycloftoffice) & Konstantinos Soulios (@konstantinos.soulios) - B6 Real Estate Advisors (@B6RealEstate) SALE PRICE: $3,300,000 SF: 10,400 ~ PPSF: $317 NOTE FROM SELLER'S REP: B6 Real Estate exclusively represented the seller and procured a direct buyer for this two-story industrial property in Long Island City. The building offered flexible permitted uses, high ceilings, curb cuts, legal parking and future development potential. Please contact Alex Woodlief ([email protected]) for more info.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$175,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,724.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,643.68
Annual Debt Service$187,724.20