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36-24 34th Street, Queens, ...

Updated Dec 21, 2023

Benjamin Goldberg Acquires Commercial Property In Long Island City, Queens For $6.05M
SOLDCommercial

Benjamin Goldberg Acquires Commercial Property In Long Island City, Queens For $6.05M

36-24 34th Street, Queens, New York 11106, United States

$6,050,000

$612/SF

Building Size

9,874 SF

Asset Type

Commercial

Closing

Jul 31, 2022

About this deal

AI

The commercial property located at 36-24 34th Street in Long Island City, Queens has been sold in a recent transaction. The property, which falls under the M1-1 zoning classification, has a lot size of 10,075 square feet and a FAR (Floor Area Ratio) of 0.98. The transaction took place on 08/01/2022.

Summary of transaction details

  • Property Type: Commercial
  • Transaction Amount: $6,050,000
  • Address: 36-24 34th Street, Long Island City, Queens
  • Market: Long Island City, Queens
  • Buyer: Benjamin Goldberg
  • Seller: Richard Sobel
  • Building Square Footage: 9,874 SF
  • Price Per Square Foot: $612
  • Land Lot Size: 10,075 square feet
  • Permits: Alteration 2 (09/07/2014)
  • Lot Dimensions: 95.58 ft x 100 ft
  • Tax Class: 4

The buyer, Benjamin Goldberg, and the seller, Richard Sobel, were the key individuals involved in this transaction. The price for the property was $6,050,000, with a building square footage of 9,874 SF and a price per square foot of $612. The deal also included a permit for alteration, dated 09/07/2014. The lot dimensions are measured at 95.58 feet by 100 feet.

Players

New York Commercial Market Snapshot

Boundary boundary · Commercial · Sale transactions

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Deal FAQ

About $612 per square foot on a published $6.1M for 9,874 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.62%

Cash-on-Cash

-0.75%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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