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4310 23rd St, Queens, New Y...

Longfellow Real Estate Partners Acquires Office In Long Island City For $95M
SOLDOffice

Longfellow Real Estate Partners Acquires Office In Long Island City For $95M

4310 23rd St, Queens, New York 11101, United States

$95,000,000

$629/SF

Building Size

150,998 SF

Asset Type

Office

Closing

Dec 21, 2021

AI

The office property located at 43-10 23rd St. in Long Island City has been sold in a transaction. The deal was completed on 12/21/2021.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $95,000,000

The buyer of the property is Longfellow Real Estate Partners, represented by Adam Sichol. The seller of the property is Nelson Mills, who was represented by Columbia Property Trust and Kassabian Realty. The brokerage firm Cushman & Wakefield facilitated the transaction, with Adam Spies, Josh King, Adam Doneger, and Rachel Humphrey serving as the brokers involved in the deal.

The property has a total area of 150,998 square feet and a price per square foot of $629. The transaction highlights the involvement and expertise of the key individuals and companies mentioned above.

Players

Adam Doneger

Newmark

Broker

$50.1B

vol

190 deals

Broker
Adam Spies
Verified Badge

Adam Spies

Newmark

Broker

$71.7B

vol

263 deals

Broker
Adam Sichol

Adam Sichol

Longfellow Real Estate Partners

Buyer

$541.6M

vol

4 deals

Buyer
Columbia Property Trust
Columbia Property TrustSeller

New York Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.17%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93