Andy Zheng Acquires Two-Story Mixed-Use Building In East Elmhurst For $1,025,000
91-01 31st Ave, Flushing, NY 11369, USA
Building Size
34,000 SF
Asset Type
Mixed-use
Closing
Jun 26, 2018
About this deal
AI
A two-story mixed-use building with 3 commercial units and 2 residential units was sold for $1,025,000 in East Elmhurst, New York. The property, located at 91-01 31st Avenue, spans 3,400 square feet and is situated in Queens. With a price per square foot of $301, the building offers a 5.5% capitalization rate. The zoning for the property is R4B / C1-3.
Summary of transaction details
- Property Type: Two-Story Mixed-Use Building (3 Commercial & 2 Residential Units)
- Transaction Amount: $1,025,000
- Square Footage: 3,400 sf
- Price Per Square Foot: $301
- Capitalization Rate: 5.5%
- Address: 91-01 31st Avenue, East Elmhurst, New York
- Market: Queens
- Zoning: R4B / C1-3
The seller of the property was Fay Ping Chiang, while the buyer was Andy Zheng. The deal was facilitated by Stephen R. Preuss of [...].
Players
East Elmhurst Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93