Carlyle Group Acquires Commercial Condo In Long Island City For $80M
SOLD
$80,000,000
New York
See Similar DealsCommercial209,439 SF
Sold 07/05/2022
SOLD
Carlyle Group Acquires Commercial Condo In Long Island City For $80M
31-08 Northern Boulevard, Queens, New York 11101, United States
See Similar DealsCommercial209,439 SF
Sold 07/05/2022
Summary
NEW YORK
Asset Type:Commercial
Price Per Square Foot:$382
Total Square Footage:209,439 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$284,223.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$379,240.81
Annual Debt Service$4,550,889.77
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