Updated Oct 29, 2024
New Age Developers Acquires Commercial Property In Queens From Gelfarb Properties For $37.5M
136-29 38th Ave Flushing, NY 11354, USA
$37,500,000
Building Size
—
Asset Type
Commercial
Closing
Jul 21, 2023
About this deal
AI
New Age Developers has purchased a commercial property in Flushing, located at 136-29 38th Avenue, Queens, from Gelfarb Properties for a total of $37,500,000.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: $37,500,000
- Address: 136-29 38th Avenue, Queens
- Market: Queens
This transaction involved New Age Developers as the buyer and Gelfarb Properties as the seller. The property, located in Flushing, is classified as a commercial asset. The deal was finalized for a total of $37,500,000.
The commercial sale at 136-29 38th Ave Flushing, NY 11354, USA in New York, New York sold for $37.5M in 2023. 136-29 38th Ave Flushing, NY 11354, USA is classified as Commercial on Traded. This page is the New York, New York file for the 136-29 38th Ave Flushing, NY 11354, USA commercial sold: pricing, party profiles, and other closed commercial comps from the same New York sit in the Market section below. Filter that New York commercial set by closing date to see what else sold near 136-29 38th Ave Flushing, NY 11354, USA around 2023. Published consideration for 136-29 38th Ave Flushing, NY 11354, USA is $37.5M, dated 2023. Cite this New Age Developers Acquires Commercial Property In Queens From Gelfarb Properties For $37.5M sale when underwriting similar commercial product around New York, New York.
Players
New York Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93