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David A Rechtweg Acquires Warehouse In LIC, Queens From Teresa Fitzgerald For $4.5M

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SOLD
$4,500,000

New York

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Sold 05/25/2021
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SOLD

David A Rechtweg Acquires Warehouse In LIC, Queens From Teresa Fitzgerald For $4.5M

36-30 13th Street, LIC, Queens County, NY, USA

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Other10,000 SF
Sold 05/25/2021
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Summary

NEW YORK
Asset Type:Other
Price Per Square Foot:$450
Total Square Footage:10,000 SF
Transaction Type:Sale

The warehouse located at 36-30 13th Street in LIC, Queens has been sold for $4,500,000. The property spans 10,000 square feet with a price per square foot of $450. The buyer in this transaction is David A Rechtweg, while the seller is Teresa Fitzgerald. The warehouse is zoned as M1-1 and sits on a lot measuring 10,000 square feet with dimensions of 100 ft x 100.92 ft. The last recorded sale of the property was on July 18, 2017, for a price of $5,000,000. Additionally, there was a permit issued for alteration type 2 on October 29, 1993.

Summary of transaction details

  • Property Type: Warehouse
  • Transaction Amount: $4,500,000
  • Market: LIC, Queens
  • Buyer: David A Rechtweg
  • Seller: Teresa Fitzgerald
  • Price per Square Foot: $450
  • Zoning: M1-1
  • Lot Size: 10,000 square feet
  • Last Sale Price: $5,000,000 (July 18, 2017)
  • Permits: Alteration type 2 (October 29, 1993)
  • Lot Dimensions: 100 ft x 100.92 ft

David A Rechtweg acted as the buyer's representative in this warehouse sale.

Players

2 deals$9.9M volume
BUYER

Details

SOLD
IMAGE: 05/25/2021 ADDRESS: 36-30 13th Street MARKET: LIC,Queens ASSET TYPE: Warehouse ~ ZONING: M1-1 BUYER: David A Rechtweg SELLER: Teresa Fitzgerald PRICE: $4,500,000 BSF: 10,000 ~ PPBSF: $450 SF: 10,000 ~ PPSF: $450 FAR: 1.00 TAX CLASS: 4 LOT SIZE: 10,000 LAST SALE PRICE: $5,000,000 (7/18/2017) PERMITS: Alteration type 2 (10/29/1993) LOT DIMENSIONS: 100 ft x 100.92 ft

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$240,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55