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300 Western Avenue

Updated Dec 4, 2024

CMA CGM Group Acquires Special Purpose Building And Development Site In Bloomfield, Staten Island For $5.6M
SOLDSpecial Purpose

CMA CGM Group Acquires Special Purpose Building And Development Site In Bloomfield, Staten Island For $5.6M

300 Western Avenue & 3599 Richmond Terrace

$5,600,000

$12/SF

Building Size

233,560 SF

Asset Type

Special Purpose

Closing

Aug 31, 2023

About this deal

AI

The CMA CGM Group, represented by Rodolphe Saadé, acquired a specialty building located at 300 Western Avenue and a development parcel at 3599 Richmond Terrace in Bloomfield, Staten Island. The property was purchased from Global Container Terminals' entity Gct Usa Gp LLC for a total of $5.6 million. This transaction included a specialty building and a development site, with a combined square footage of 233,560 square feet. The price per square foot for this deal was $24.

Summary of transaction details

  • Property Type: Special Purpose & Development Site
  • Transaction Amount: $5,604,963
  • Address: 300 Western Avenue & 3599 Richmond Terrace, Bloomfield, Staten Island
  • Market: Bloomfield, Staten Island
  • Buyer: CMA CGM Group - Rodolphe Saadé
  • Seller: Doron D Grosman - Global Container Terminals
  • Square Footage: 233,560
  • Price per Square Foot: $24

This acquisition was made by the CMA CGM Group, with Rodolphe Saadé as the representative. The seller, Doron D Grosman, represented Global Container Terminals. The specialty building and development parcel were purchased for a total amount of $5.6 million. This transaction marks a significant investment by the CMA CGM Group in the Staten Island area.

Players

Staten Island Special Purpose Market Snapshot

Boundary boundary · Special Purpose · Sale transactions

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Deal FAQ

About $12 per square foot on a published $5.6M for 467,120 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.83%

Cash-on-Cash

-0.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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