Updated Dec 4, 2024
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
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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