Updated Dec 21, 2023
Robert Rahallo Acquires Commercial Property In Maspeth, Queens For $50M
80 48th Street, Queens, New York 11103, United States
$50,000,000
$2,167/SF
Building Size
23,067 SF
Asset Type
Commercial
Closing
Apr 13, 2022
About this deal
AI
The commercial property located at 55-70 48th Street & 55-80 48th Street in Maspeth, Queens has been sold. The property is zoned as M3-1 and has a lot size of 60,328 square feet, with dimensions of 195 ft x 389 ft. The transaction took place on April 14, 2022, with a sale price of $50,000,000.
Summary of transation details
- Property Type: Commercial
- Transaction Amount: $50,000,000
- Market: Maspeth, Queens
- Zoning: M3-1
- Lot Size: 60,328 square feet
- Lot Dimension: 195 ft x 389 ft
The buyer of the property is Robert Rahallo, while the seller is Fred J. Carillo. The property has a building square footage of 23,067 and a price per square foot of $2,167. The sale also includes a building square footage (BSF) of 237,308, with a price per BSF of $210. The property has a floor area ratio (FAR) of 0.16 and falls under tax class 4.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93