Rockey Ren Acquires Maspeth Warehouse In Queens For $12.65M
58-97 57th Street, Maspeth, Queens County, NY, USA
$12,650,000
$421/SF
Building Size
30,030 SF
Asset Type
Other
Closing
May 23, 2021
About this deal
AI
A warehouse located at 58-97 57th Street in Maspeth, Queens has been sold. The property is zoned for industrial use (M1-1) and spans approximately 30,030 square feet. The sale took place on May 24, 2021, with a sale price of $12,650,000. The building has a total floor area of 33,000 square feet, resulting in a price per square foot of $421. The lot size is 33,000 square feet, with dimensions of 155 feet by 198 feet. The property is classified as tax class 4 and has a floor area ratio (FAR) of 0.91.
Summary of transaction details
- Property Type: Warehouse
- Transaction Amount: $12,650,000
- Market: Maspeth, Queens
- Zoning: M1-1
- Square Footage: 30,030
- Price per Square Foot: $421
- Lot Size: 33,000 square feet
- Lot Dimensions: 155 ft x 198 ft
- Tax Class: 4
- Sale Date: May 24, 2021
- Permits: Alteration type 2 (10/18/2010)
The buyer of the warehouse is Rockey Ren, while the seller is Jon Ardeljan.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.25%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93