Carlyle Group Acquires Commercial Condo In Long Island City For $80M
31-08 Northern Boulevard, Queens, New York 11101, United States
$80,000,000
$382/SF
Building Size
209,439 SF
Asset Type
Commercial
Closing
Jul 4, 2022
AI
Located at 31-08 Northern Boulevard in Long Island City, this commercial condo was recently sold in a transaction involving the Carlyle Group and the Criterion Group. The sale took place on 07/05/2022.
Summary of Transaction Details:
- Property Type: Commercial Condo
- Transaction Amount: $80,000,000
- Address: 31-08 Northern Boulevard
- Market: Long Island City
- Buyer: Carlyle Group - Jason Hart
- Seller: Criterion Group - Shibber A Khan
- Square Footage: 209,439
- Price per Square Foot: $382
The buyer's representative in this transaction was Jason Hart from the Carlyle Group, while Shibber A. Khan represented the seller, Criterion Group.
Players
New York Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93