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58-28 Roosevelt Avenue, Que...

Updated Dec 21, 2023

Shi Rong Dong Acquires Commercial Property On 58-28 Roosevelt Avenue In Woodside, Queens For $3M
SOLDCommercial

Shi Rong Dong Acquires Commercial Property On 58-28 Roosevelt Avenue In Woodside, Queens For $3M

58-28 Roosevelt Avenue, Queens, New York 11377, United States

$3,000,000

$507/SF

Building Size

5,914 SF

Asset Type

Commercial

Closing

Jul 14, 2022

About this deal

AI

The commercial property located at 58-28 Roosevelt Avenue in Woodside, Queens has been sold for a total price of $3,000,000. The property has a total building square footage (BSF) of 7,068, with a price per BSF of $424. The total lot size is 2,356 square feet, with dimensions of 22 ft x 107.08 ft. The property is zoned as R6A, C2-3, and falls under tax class 2B. This transaction took place on July 15, 2022.

Summary of transaction details

  • Property Type: Commercial
  • Transaction Amount: $3,000,000
  • Seller: Engeline K Gomez
  • Buyer: Shi Rong Dong
  • Total BSF: 7,068
  • Price per BSF: $424
  • Total Square Footage (SF): 5,914
  • Price per SF: $507
  • Market: Woodside, Queens
  • Zoning: R6A, C2-3
  • Lot Size: 2,356
  • Lot Dimension: 22 ft x 107.08 ft
  • Permits: Alteration 2 (12/04/2017)

The buyer of the property is Shi Rong Dong, while the seller is Engeline K Gomez. The property transaction took place in the market of Woodside, Queens. With a FAR (Floor Area Ratio) of 2.51, the property showcases great potential for development. It is important to note that this transaction involved an alteration permit obtained on December 4, 2017.

Players

New York Commercial Market Snapshot

Boundary boundary · Commercial · Sale transactions

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Deal FAQ

About $507 per square foot on a published $3M for 5,914 square feet (2022).

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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

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