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53-13 97th Place, Queens, N...

Updated Dec 20, 2023

Min Wy Acquires Commercial Property In Corona, Queens For $3M
SOLDCommercial

Min Wy Acquires Commercial Property In Corona, Queens For $3M

53-13 97th Place, Queens, New York 11368, United States

$3,000,000

$237/SF

Building Size

12,646 SF

Asset Type

Commercial

Closing

Aug 29, 2022

About this deal

AI

A commercial property located at 53-13 97th Place in Corona, Queens has been sold for $3,000,000. The property has a building square footage (BSF) of 7,268 with a price per BSF of $412. The lot size is 7,268 square feet and the price per square foot (PPSF) is $237. The property has a floor area ratio (FAR) of 1.74 and falls under tax class 4. It is zoned as M1-1, indicating it is suitable for commercial use.

Summary of transaction details

  • Property Type: Commercial
  • Transaction Amount: $3,000,000
  • Market: Corona, Queens
  • Address: 53-13 97th Place
  • Buyer: Min Wy
  • Seller: Jian Guo Qu
  • BSF: 7,268
  • PPBSF: $412
  • SF: 12,646
  • PPSF: $237
  • FAR: 1.74
  • Tax Class: 4
  • Lot Size: 7,268

The buyer of the property is Min Wy and the seller is Jian Guo Qu. The property has the necessary permits for alteration, dated November 18, 1993. The lot dimensions measure 76.42 feet by 95.42 feet.

Players

New York Commercial Market Snapshot

Boundary boundary · Commercial · Sale transactions

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Deal FAQ

About $237 per square foot on a published $3M for 12,646 square feet (2022).

Browse New York commercial sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.29%

Cash-on-Cash

-1.51%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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