David A Rechtweg Acquires Warehouse In LIC, Queens From Teresa Fitzgerald For $4.5M
36-30 13th Street, LIC, Queens County, NY, USA
$4,500,000
$450/SF
Building Size
10,000 SF
Asset Type
Other
Closing
May 24, 2021
About this deal
AI
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
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93