SDI Leases 41k SF Warehouse In Maspeth For $16/SF With Tenant's Rep Robert Klein
4635 54th Rd, Queens, NY, 11378
Building Size
41,000 SF
Asset Type
Warehouse
Closing
May 3, 2016
About this deal
AI
The asset involved in this transaction is a warehouse located at 4635 54th Rd, Queens, NY, 11378 in the Maspeth market. The property encompasses a total of 41,000 square feet. The transaction was for a five-year lease agreement, with the asking price set at $16 per square foot.
Summary of transaction details:
- Property Type: Warehouse
- Transaction Amount: $16/SF
- Address: 4635 54th Rd, Queens, NY, 11378
- Market: Maspeth
- Square Feet: 41,000
- Tenant's Representative: Robert Kleinman
- Landlord: 54th Realty Group
In this transaction, supply management firm SDI has agreed to occupy the space leased from 54th Realty Group. The landlord’s representation in this deal has not been disclosed, while Robert Kleinman from Kalmon Dolgin Affiliates represented the tenant.
Players
Maspeth Warehouse Market Snapshot
Boundary boundary · Warehouse · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93