Updated Dec 20, 2023
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
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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