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57 14 59th Street

JianLi Zou Represents Buyer In $1.85M Industrial Sale At 57-14 59th Street In Maspeth
SOLDIndustrial

JianLi Zou Represents Buyer In $1.85M Industrial Sale At 57-14 59th Street In Maspeth

57 14 59th Street

$1,850,000

$370/SF

Building Size

5,000 SF

Asset Type

Industrial

Closing

Mar 19, 2025

AI

The property asset involved in this transaction is located at 57-14 59th Street in Maspeth, classified as an industrial property. The sale price of the property was $1,850,000, encompassing a total area of 5,000 square feet, which equates to a price per square foot of $370.

Summary of transaction details:

Brendan Burke and Paul Bralower represent the seller in this transaction. They are part of Pinnacle Realty of New York LLC, a firm that specializes in industrial real estate within the Queens and Brooklyn areas, showcasing a successful track record with a results-driven approach.

Players

Brendan Burke

Broker

$68M

vol

14 deals

Broker

Maspeth 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

8.57%

Cash-on-Cash

-2.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93