Tom Yim Acquires Two-Story Industrial Warehouse In Long Island City For $5.1M
28-43 35th St, Long Island City, NY 11103, USA
Building Size
97,000 SF
Asset Type
Office
Closing
Jun 13, 2018
About this deal
AI
A two-story industrial warehouse with office/mezzanine space in Long Island City, Queens has been sold for a record price of $5,100,000. The property, located at 43-05 35th Street, spans 9,700 square feet and is zoned as M1-4. This transaction marks a significant milestone in the Queens industrial market, with a price per square foot of $526, setting a new record.
Summary of transaction details:
- Property Type: Two-Story Industrial Warehouse with Office/Mezzanine Space
- Transaction Amount: $5,100,000
- Address: 43-05 35th Street, New York
- City: Long Island City, Queens
- Market: Long Island City, Queens
- Square Footage: 9,700 sf
- Price Per Square Foot: $526
- Zoning: M1-4
The seller in this transaction was Mike Bell, while the buyer was Tom Yim. The deal was facilitated by Cushman & Wakefield, with Stephen R. Preuss and Andreas Efthymiou representing the parties involved.
Players
Astoria Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Browse Astoria office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93