Updated Dec 21, 2023
Xiaohong Zhao Acquires Flushing Development Site For $2.6M With Brokers Stephen R. Preuss & Kevin Louie
189-14 Northern Boulevard
$2,600,000
$110/SF
Building Size
23,486 SF
Asset Type
Development Site
Closing
Jan 5, 2020
About this deal
AI
A development site located at 189-14 Northern Boulevard in Flushing has been sold for $2,600,000. The property spans a total square footage of 5,903 and has a price per square foot of $440.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,600,000
- Address: 189-14 Northern Boulevard, Flushing
- Market: Flushing
The seller of the property was Maria Barone, while the buyer was Xiaohong Zhao. The transaction was facilitated by Stephen R. Preuss and Kevin Louie from Team Preuss.
The development site sale at 189-14 Northern Boulevard in New York, New York sold for $2.6M in 2020. The building is 23,486 square feet, implying about 110 per square foot on the published price. Kevin Louie, Stephen R. Preuss Sr., Ripco appear on the sale alongside Ripco. This page is the New York, New York file for the 189-14 Northern Boulevard development site sold: pricing, party profiles, and other closed development site comps from the same New York sit in the Market section below. Filter that New York development site set by closing date to see what else sold near 189-14 Northern Boulevard around 2020. Published consideration for 189-14 Northern Boulevard is $2.6M, dated 2020. Cite this Xiaohong Zhao Acquires Flushing Development Site For $2.6M With Brokers Stephen R. Preuss & Kevin Louie sale when underwriting similar development site product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.10%
Cash-on-Cash
-1.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93