Updated Dec 2, 2024
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
About this deal
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.
On the Map
$80,000,000
$382/SF
Commercial
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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