Anthony Morena Acquires Warehouse In Old Astoria For $5M
11-32 31st Avenue, Astoria, NY, USA
$5,000,000
$1,428/SF
Building Size
3,500 SF
Asset Type
Other
Closing
Jul 21, 2021
About this deal
AI
A warehouse located at 11-32 31 Avenue in Old Astoria has been sold in a recent transaction. The property, with a total square footage of 28,000, was acquired for a price of $5,000,000. The warehouse sits on a lot size of 7,000 and has dimensions of 46 ft x 125 ft. It is zoned as R7A and is classified as Tax Class 4. A full demolition permit was issued on November 13, 2020.
Summary of transaction details
- Property Type: Warehouse
- Transaction Amount: $5,000,000
- Market: Old Astoria
- Zoning: R7A
- Square Footage: 28,000
- Price per Square Foot: $178
- Lot Size: 7,000
- Lot Dimensions: 46 ft x 125 ft
- Tax Class: 4
- Permits: Full Demolition (11/13/2020)
The buyer of the property is Anthony Morena, while the seller is Alexander Rosner. The transaction was completed on July 22, 2021. The price per square foot for the warehouse amounts to $178, and the total square footage of the building is 28,000. The sale represents a FAR (Floor Area Ratio) of 0.50. The property is zoned as R7A and falls under Tax Class 4.
On the Map
$5,000,000
$1,428/SF
Other
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93