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
New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
Loading comparables…
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