Rafael Sanchez pays $3.8M for industrial building in Woodside

Rafael Sanchez through the entity Tollocan Industries, LLC paid $3.8 million to Dennis Batsidis through the entity Dnl Realty, LLC for industrial building at 37-25 54th Street in Woodside, Queens.
The deal closed on December 29, 2021 and was recorded on January 21, 2022.
The property has 5,004 square feet of built space and 50 square feet of additional air rights for a total buildable of 5,030 square feet according to PincusCo analysis of city data. The sale price per built square foot is $759 and the price per buildable square foot is $755 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Dennis Batsidis was Dennis Batsidis. The signatory for Rafael Sanchez was Rafael Sanchez.

The 5,004-square-foot property generated revenue of $75,807 or $15 per square foot, according to the most recent income and expense figures.

In Woodside, the bulk, or 29 percent of the 22.8 million square feet of built space are 1-4 family buildings, with residential elevator buildings next occupying 28 percent of the space. In sales, Woodside has had very little sales volume relative to other neighborhoods with $143.7 million in sales volume in the last two years. For development, Woodside has had very little major development activity relative to other neighborhoods. It had 585,240 square feet of commercial and multi-family construction under development in the last two years, which represents 3 percent of the neighborhood’s built space.
On the tax block, the majority, or 91 percent of the 66,736 square feet of built space are industrial buildings, with specialty buildings next occupying 6 percent of the space.

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