Updated Jan 22, 2025
Malachite Group Acquires Commercial Building In Queens, New York For $9.6M
33-15 56th Street, Queens, Flushing, NY, USA
$9,600,000
$342/SF
Building Size
28,000 SF
Asset Type
Commercial
Closing
Nov 6, 2017
About this deal
AI
The commercial building located at 33-15 56th Street, 33-16 57th Street, and 33-18 57th Street in New York's Queens market has been sold for a price of $9,600,000. The property spans a total of 28,000 square feet.
Summary of transaction details
- Property Type: Commercial building
- Transaction Amount: $9,600,000
- Address: 33-15 56th Street, 33-16 57th Street, and 33-18 57th Street
- Market: Queens, New York
- Seller: Vernon Real Estate Group
- Buyer: Malachite Group - Malekan
- Brokers: CPEX Real Estate (Timothy King) and Dimitri Venekas
- Square Footage: 28,000
The transaction, which took place on November 7, 2017, involved Vernon Real Estate Group as the seller and Malachite Group - Malekan as the buyer. The deal was facilitated by brokers CPEX Real Estate, represented by Timothy King and Dimitri Venekas.
Woodside Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.65%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93