Updated Jan 14, 2026
David Cannizzaro Acquires Industrial Property From Seller Angela Lam In Long Island City For $3.3M
39 06 Crescent Street
$3,300,000
$317/SF
Building Size
10,400 SF
Asset Type
Industrial
Closing
Dec 28, 2025
About this deal
AI
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.
On the Map
$3,300,000
$317/SF
Industrial
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Players
Long Island City 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
4.81%
Cash-on-Cash
-1.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93