Michael Lee Acquires Warehouse On Toledo St, Farmingdale For $610,000.00
134 Toledo St, Farmingdale, NY, 11735
$610,000
$127/SF
Building Size
4,800 SF
Asset Type
Warehouse
Closing
Nov 22, 2023
AI
The property asset involved in the transaction is a warehouse located at 134 Toledo St, Farmingdale, NY, with a total square footage of 4,800. The asset was purchased for $610,000. The market for this transaction is Farmingdale.
Summary of transaction details:
- Property Type: Warehouse
- Transaction Amount: $610,000.00
- Buyer: Michael Lee
- Seller: Qualified Manufacturing Corp.
- Buyer's Representative: Michael Freedberg
Michael Freedberg represented both the buyer, Michael Lee, an investor from Deer Park, and the seller, Qualified Manufacturing Corp., a machine shop operator, in this transaction.
Players
Farmingdale Warehouse Market Snapshot
Boundary boundary · Warehouse · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
26.00%
Cash-on-Cash
-7.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93