Updated Oct 29, 2024
Storage Deluxe Acquires Property In Bayside Queens For $9.7 Million With Rep Kevin Louie And Denise Prevete
21501 42nd Ave, Queens, NY, 11361
$9,700,000
$215/SF
Building Size
44,981 SF
Asset Type
Self Storage
Closing
Nov 19, 2023
About this deal
AI
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
Bayside Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.64%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93