facebook
Traded Co logo
Submit

Hye-Chun Lee Acquires Commercial Property In Oakland Gardens, Queens For $32M

Property Image
SOLD
$32,000,000

New York

See Similar Deals
Commercial33,050 SF
Sold 07/28/2022
the dealdetailscomps
Property Image
SOLD

Hye-Chun Lee Acquires Commercial Property In Oakland Gardens, Queens For $32M

61-01 Springfield Boulevard, Queens, New York 11427, United States

See Similar Deals
Commercial33,050 SF
Sold 07/28/2022

Summary

NEW YORK
Asset Type:Commercial
Price Per Square Foot:$968
Total Square Footage:33,050 SF
Transaction Type:Sale

The commercial property located at 61-01 Springfield Blvd in Oakland Gardens, Queens has been sold for a total price of $32,000,000. The property has a building square footage (BSF) of 41,312 and a price per building square footage (PPBSF) of $774. The total lot size is 82,625 square feet, with a lot dimension of 482 ft x 409 ft. The property falls under zoning categories R3-2 and C1-2 and has a floor area ratio (FAR) of 0.40. The transaction took place on July 28, 2022, and the property is classified as tax class 4. The seller in the deal was Alfredo Li, while the buyer was Hye-Chun Lee.

Summary of transaction details

  • Property Type: Commercial
  • Transaction Amount: $32,000,000
  • Market: Oakland Gardens, Queens
  • Zoning: R3-2, C1-2
  • BSF: 41,312
  • PPBSF: $774
  • SF: 33,050
  • PPSF: $968
  • FAR: 0.40
  • Tax Class: 4
  • LOT SIZE: 82,625
  • PERMITS: Alteration 2 (11/06/2017)
  • LOT DIMENSION: 482 ft x 409 ft

The deal involved Hye-Chun Lee as the buyer and Alfredo Li as the seller. Note that there are no additional details available regarding brokers or representatives in this transaction.

Details

SOLD
IMAGE: 07/28/2022 ADDRESS: 61-01 Springfield Blvd MARKET: Oakland Gardens, Queens ASSET TYPE: Commercial ~ ZONING: R3-2, C1-2 BUYER: Hye-Chun Lee SELLER: Alfredo Li PRICE: $32,000,000 BSF: 41,312 ~ PPBSF: $774 SF: 33,050 ~ PPSF: $968 FAR: 0.40 TAX CLASS: 4 LOT SIZE: 82,625 PERMITS: Alteration 2 (11/06/2017) LOT DIMENSION: 482 ft x 409 ft

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,706,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$113,689.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$151,696.33
Annual Debt Service$1,820,355.91