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
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.
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