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Timothy E McKenna Acquires Maspeth,Queens Warehouse From Robert Linekin For $6.1M

Property Image
SOLD
$6,100,000

New York

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Other8,916 SF
Sold 05/26/2021
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Property Image
SOLD

Timothy E McKenna Acquires Maspeth,Queens Warehouse From Robert Linekin For $6.1M

58-17 59th Drive, Maspeth, Queens County, NY, USA

See Similar Deals
Other8,916 SF
Sold 05/26/2021
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Summary

NEW YORK
Asset Type:Other
Price Per Square Foot:$684
Total Square Footage:8,916 SF
Transaction Type:Sale

The industrial warehouse located at 58-17 59th Drive in Maspeth, Queens has been sold for $6,100,000. This property has a total building size of 20,734 square feet, with a price per square foot of $294. The total lot size is 20,734 square feet, and it is zoned for M1-1 industrial use. The property was last sold on March 29, 2017, for $1,250,000. The previous permits for this property include an alteration type 3, issued on November 9, 2011.

Summary of transaction details

  • Property Type: Warehouse
  • Transaction Amount: $6,100,000
  • Address: 58-17 59th Drive, Maspeth, Queens
  • Market: Maspeth, Queens
  • Zoning: M1-1
  • Building Size: 20,734 square feet
  • Price per Square Foot: $294
  • Lot Size: 20,734 square feet
  • Last Sale Price: $1,250,000 (3/29/2017)
  • Permits: Alteration type 3 (11/09/2011)

The buyer of this property is Timothy E McKenna, while the seller is Robert Linekin.

Players

6 deals$60.4M volume
BUYER

Details

SOLD
IMAGE: 05/26/2021 ADDRESS: 58-17 59th Drive MARKET: Maspeth,Queens ASSET TYPE: Warehouse ~ ZONING: M1-1 BUYER: Timothy E McKenna SELLER: Robert Linekin PRICE: $6,100,000 BSF: 20,734 ~ PPBSF: $294 SF: 8,916 ~ PPSF: $684 FAR: 0.43 TAX CLASS: 4 LOT SIZE: 20,734 LAST SALE PRICE: $1,250,000 (3/29/2017) PERMITS: Alteration type 3 (11/09/2011) LOT DIMENSIONS: 200 ft x 114 ft

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$21,672.03
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