Mohammed Malik Acquires Warehouse In Sunnyside, Queens For $11.95M
25-45 Borden Avenue, Long Island City, NY, USA
$11,950,000
$491/SF
Building Size
24,300 SF
Asset Type
Other
Closing
May 13, 2021
About this deal
AI
A warehouse located at 25-45 Borden Avenue in the market of Sunnyside, Queens has been sold. The property is zoned as M3-2 and has a total of 45,000 square feet of building space. The sale took place on May 14, 2021, and the transaction price was $11,950,000. The price per square foot for this warehouse is $265, based on a total of 24,300 square feet.
Summary of transation details
- Property Type: Warehouse
- Transaction Amount: $11,950,000
- Address: 25-45 Borden Avenue, Sunnyside, Queens
- Market: Sunnyside, Queens
- Zoning: M3-2
- Building Square Footage: 45,000
- Price per Square Foot: $265
The buyer of the warehouse is Mohammed Malik, while the seller is Livery Station, L.L.C. The lot size of the property is 22,500 square feet, with dimensions of 175 feet by 180 feet. The warehouse is classified under tax class 4 and has a floor-area ratio (FAR) of 1.08. It is worth noting that an alteration permit of type 2 was issued on April 18, 2018.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.33%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93