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Alexandria Real Estate Equities Acquires Property From Prestone Realty For $25M In Long Island City

Property Image
SOLD
$25,000,000
Joshua King
Andreas Efthymiou
Stephen R. Preuss Sr.

New York

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Warehouse52,500 SF
Sold 07/11/2019
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Property Image
SOLD

Alexandria Real Estate Equities Acquires Property From Prestone Realty For $25M In Long Island City

4750 30th St, New York, NY, 11101

See Similar Deals
Warehouse52,500 SF
Sold 07/11/2019
Joshua King
Andreas Efthymiou
Stephen R. Preuss Sr.
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Warehouse
Price Per Square Foot:$476
Total Square Footage:52,500 SF
Transaction Type:Sale

The property asset involved is located at 4750 30th St, New York, NY, 11101, in the Long Island City market. It encompasses a total area of 52,500 square feet and was sold for $25,000,000.00.

Summary of transaction details:

  • Property Type: Sale
  • Transaction Amount: $25,000,000.00
  • Address: 4750 30th St, New York, NY, 11101
  • Market: Long Island City
  • Square Footage: 52,500
  • Buyer: Alexandria Real Estate Equities
  • Seller: Prestone Realty
  • Buyer's Representatives: Joshua (Josh) King from Newmark and Andreas Efthymiou from Ripco

The transaction features key individuals including the buyer, Alexandria Real Estate Equities, and the seller, Prestone Realty, which highlights collaboration among various representatives in the deal. The buyer is represented by Joshua (Josh) King from Newmark and Andreas Efthymiou from Ripco, offering a notable brokerage partnership in this transaction.

Players

Andreas Efthymiou
Ripco
Andreas Efthymiou
128 deals$1.1B volume
BROKER
Joshua King
Newmark
Joshua King
114 deals$32.5B volume(212) 850-5427
BROKER
Stephen R. Preuss Sr.
Ripco
Stephen R. Preuss Sr.
258 deals$2B volume(718) 663-2639
BROKER
RE
Real Estate Equities
BUYER

Details

SOLD
IMAGE: 4750 30th St, New York, NY, 11101 MARKET: Long Island City BUYER'S REP: Joshua (Josh) King(Newmark), Andreas Efthymiou(Ripco) BUYER: Alexandria Real Estate Equities SELLER: Prestone Realty PRICE: $25,000,000.00 SF: 52500

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,333,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$88,819.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,512.75
Annual Debt Service$1,422,153.05