Storage Deluxe Acquires Property In Bayside Queens For $9.7 Million With Rep Kevin Louie And Denise Prevete
SOLD
$9,700,000
New York
See Similar DealsSelf Storage44,981 SF
SOLD
Storage Deluxe Acquires Property In Bayside Queens For $9.7 Million With Rep Kevin Louie And Denise Prevete
21501 42nd Ave, Queens, NY, 11361
See Similar DealsSelf Storage44,981 SF
Summary
NEW YORK
Asset Type:Self Storage
Price Per Square Foot:$215
Total Square Footage:44,981 SF
Transaction Type:Sale
The property asset involved in this transaction is located at 21501 42nd Ave, Queens, NY, 11361 within the Bayside market. The transaction was completed for a price of $9,700,000.00 and encompasses a total square footage of 44,981.
Summary of transaction details:
- Property Type: Not specified
- Transaction Amount: $9,700,000.00
- Address: 21501 42nd Ave, Queens, NY, 11361
- Market: Bayside
- Seller's Representatives: Kevin Louie - Ripco, Denise Prevete - Cushman & Wakefield
- Buyer: Storage Deluxe
The deal involved notable individuals representing the sellers, Kevin Louie of Ripco and Denise Prevete from Cushman & Wakefield. The buyer in this transaction was identified as Storage Deluxe.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$517,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,462.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,982.95
Annual Debt Service$551,795.38
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