Timothy E McKenna Acquires Maspeth,Queens Warehouse From Robert Linekin For $6.1M
58-17 59th Drive, Maspeth, Queens County, NY, USA
$6,100,000
$684/SF
Building Size
8,916 SF
Asset Type
Other
Closing
May 25, 2021
AI
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
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
2.60%
Cash-on-Cash
-0.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93