Updated Dec 19, 2023
Hye-Chun Lee Acquires Commercial Property In Oakland Gardens, Queens For $32M
61-01 Springfield Boulevard, Queens, New York 11427, United States
$32,000,000
$968/SF
Building Size
33,050 SF
Asset Type
Commercial
Closing
Jul 27, 2022
About this deal
AI
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.
On the Map
$32,000,000
$968/SF
Commercial
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93