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39-07 Prince St, Flushing, ...

Lian Wu Shao & William Shao Acquire Retail Condo In Flushing For $3.8M
SOLD

Lian Wu Shao & William Shao Acquire Retail Condo In Flushing For $3.8M

39-07 Prince St, Flushing, NY 11354, USA

$3,800,000

$135/SF

Building Size

28,000 SF

Asset Type

Closing

Mar 1, 2020

AI

A retail condo located at 39-07 Prince Street in Flushing was recently sold. The property, measuring 2,800 square feet, was sold for $3,800,000. The seller, KingsWell Realty represented by Michael Wu, sold the retail condo to Lian Wu Shao and William Shao. The property was listed with an asking price of $3,950,000, resulting in a final sale price of $3,800,000. The price per square foot for this transaction was approximately $1,357.

Summary of transaction details:

  • Property Type: Retail Condo
  • Transaction Amount: $3,800,000
  • Address: 39-07 Prince Street, Flushing
  • Market: Flushing
  • Seller: KingsWell Realty (represented by Michael Wu)
  • Buyer: Lian Wu Shao and William Shao

Jasmine Huang served as the broker for this transaction, representing the buyer. No additional information was provided regarding the deal.

Players

Jasmine Huang

Broker

$15.3M

vol

2 deals

Broker
William Shao

William Shao

Buyer

$83.3M

vol

8 deals

Buyer

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

4.17%

Cash-on-Cash

-1.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93