Updated Dec 21, 2023
David Zwirner Acquires Astoria Industrial/Warehouse On Hazen Street For $12M
19 40 Hazen St, Flushing, Ny 11370, Usa
$12,000,000
$35/SF
Building Size
337,870 SF
Asset Type
Industrial
Closing
Nov 12, 2019
About this deal
AI
A warehouse property located at 19-40 Hazen Street in Astoria has been sold for $12,000,000. The industrial property spans 33,787 square feet and was sold at a rate of $355 per square foot. The buyer of the property is David Zwirner, a prominent figure in the art world. The seller of the property is Werner Lederer.
Summary of transation details
- Property Type: Industrial/Warehouse
- Transaction Amount: $12,000,000
- Square Footage: 33,787
David Zwirner, a renowned art dealer, has acquired the warehouse property located at 19-40 Hazen Street in Astoria. Represented by their broker, David Zwirner will now own the industrial property previously owned by Werner Lederer.
Players
East Elmhurst Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93