Waldron Street Owner LLC Acquires Senior Housing In Corona, Queens For $49.5M
SOLD
$49,520,000
New York
See Similar DealsSold 09/21/2022
SOLD
Waldron Street Owner LLC Acquires Senior Housing In Corona, Queens For $49.5M
108-15 Horace Harding Expressway, Queens, New York 11364, United States
See Similar DealsSold 09/21/2022
Summary
NEW YORK
Transaction Type:Sale
The senior housing property located at 108-15 & 108-25 Horace Harding Expwy in Corona, Queens has been sold for a total of $49,520,000. The transaction took place on September 21, 2022.
Summary of transaction details:
- Property Type: Senior Housing
- Transaction Amount: $49,520,000
- Address: 108-15 & 108-25 Horace Harding Expwy, Corona, Queens
The buyer, Waldron Street Owner LLC represented by Avi Lustig, acquired the property from the seller, Albro Re LLC, which was represented by Reuben Seltzer, Michael Alon, and Irwin Adelsberg.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,641,066.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$175,934.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$234,750.06
Annual Debt Service$2,817,000.77
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