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Yong Ho Lee Acquires Office Building In Bayside, Queens For $13.6M

Property Image
SOLD
$13,625,000
ME
CW

California

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Office39,248 SF
Sold 08/17/2023
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Property Image
SOLD

Yong Ho Lee Acquires Office Building In Bayside, Queens For $13.6M

213-07 Northern Blvd Queens, NY 11361, USA

See Similar Deals
Office39,248 SF
Sold 08/17/2023
ME
CW
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$347
Total Square Footage:39,248 SF
Transaction Type:Sale

An office building located at 213-07 Northern Boulevard in Bayside, Queens, has been sold for a price of $13,625,000. The property offers a spacious area with a total of 39,248 square feet. This transaction demonstrates the demand for office spaces in the Bayside market.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $13,625,000
  • Address: 213-07 Northern Boulevard, Bayside, Queens
  • Market: Bayside, Queens
  • Square Footage: 39,248
  • Price per Square Foot: $347

The office building was acquired by Yong Ho Lee, marking a significant investment in the area. The seller, Allied Properties, represented by Michael Emory and Cecilia Williams, recognized the value of this property and decided to pursue the sale. This transaction showcases the confidence in the Bayside market and the potential for future growth.

Players

ME
Michael Emory
2 deals$29.2M volume
SELLER
CW
Cecilia Williams
2 deals$29.2M volume
SELLER

Details

SOLD
IMAGE: Michael Emory & Cecilia Williams DATE: 08/17/2023 ADDRESS: 213-07 Northern Boulevard MARKET: Bayside, Queens ASSET TYPE: Office BUYER: Yong Ho Lee SELLER: Allied Properties - Michael Emory & Cecilia Williams SALE PRICE: $13,625,000 SF: 39,248 ~ PPSF: $347 NOTE: Yong Ho Lee acquired an office building in Bayside, Queens for $13.6 million. The property has 39,248 square feet of built space.

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

$726,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$48,406.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$64,589.45
Annual Debt Service$775,073.41