Wharton Equity Acquires Office W/ Retail Property In Queens For $24M
35 01 36th St, Astoria, Ny 11106, Usa
Building Size
6,692 SF
Asset Type
Office
Closing
Jan 16, 2017
AI
The property located at 35-01 36th St in Queens, is a mixed-use asset featuring office space and retail amenities. The transaction took place on January 17, 2017, in the NYC Boroughs market. The property was sold for a price of $24,000,000.00.
Summary of transaction details
- Property Type: Office w/ retail
- Transaction Amount: $24,000,000.00
- Address: 35-01 36th St
- Market: NYC Boroughs
The seller of the property was Lawrence Cerullo and Steve Tallides. On the other hand, the buyer was Wharton Equity Partners.
Astoria Office Market Snapshot
Boundary boundary · Office · 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