Michelle Frankola Acquires Warehouse In College Point For $5.75M
1445 117th Street, College Point, NY, USA
$5,750,000
$207/SF
Building Size
27,663 SF
Asset Type
Other
Closing
Jul 13, 2021
About this deal
AI
A warehouse in College Point has been sold for $5,750,000. The property, located at 14-45 117th Street, has a building size of 20,046 square feet and a lot size of 20,046 square feet. The warehouse is zoned as M1-1 and has a tax class of 4. The sale price translates to approximately $286 per square foot and $207 per square foot of the lot size. The floor area ratio (FAR) for the property is 1.38. The lot dimensions measure 200 feet by 99.13 feet.
Summary of transaction details
- Property Type: Warehouse
- Transaction Amount: $5,750,000
- Market: College Point
The buyer of the property is Michelle Frankola. The seller is Iovino Enterprises, represented by Thomas Iovino and Robert Squillante.
On the Map
$5,750,000
$207/SF
Other
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Players
New York Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.76%
Cash-on-Cash
-0.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93