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
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