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3825 Main St, Flushing, NY ...

Howard Sang Acquires Office Condos On Main Street In Flushing For $6M
SOLD

Howard Sang Acquires Office Condos On Main Street In Flushing For $6M

3825 Main St, Flushing, NY 11354, USA

$6,000,000

$882/SF

Building Size

6,800 SF

Asset Type

Closing

Jul 24, 2019

AI

The office condos located at 38-25 Main Street in Flushing have been sold for $6,000,000. Spanning across 6,800 square feet, the property was acquired at a price per square foot of $882.35.

Summary of transation details

  • Property Type: Office Condos
  • Transaction Amount: $6,000,000
  • Address: 38-25 Main Street
  • Market: Flushing

Howard Sang is the buyer of the property, while Nancy Lu is the seller. Tommy Lin, Thomas Donovan, Eugene Kim, Robert Rappa of @donovanteam_nyc, Ben Efraimov, and Andrew Winwood of @team_efraimov_b6realestate represented the seller as their representatives.

Players

Benjamin Efraimov

B6 Real Estate Advisors

Broker

$16.8M

vol

5 deals

Broker

New York CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.64%

Cash-on-Cash

-0.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93