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240-10 Merrick Boulevard

Ivy Realty Sells Retail Property In Queens For $2.3M
SOLDDevelopment Site

Ivy Realty Sells Retail Property In Queens For $2.3M

240-10 Merrick Boulevard

$2,300,000

$95/SF

Building Size

24,000 SF

Asset Type

Development Site

Closing

Oct 24, 2023

AI

The retail property located at 240-10 Merrick Boulevard in Queens has been sold for a total of $2,300,000. The property spans 19,250 square feet, resulting in a price per square foot of $119. The transaction took place on 10/24/2023. The seller of the property was Ivy Realty.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $2,300,000
  • Address: 240-10 Merrick Boulevard, Queens
  • Market: Queens
  • Size: 19,250 square feet
  • Price per Square Foot: $119

The sale of the retail property was facilitated by the brokers Daniel O'Brien from Newmark and William Diana from Cushman & Wakefield.

Players

William Diana

WTD Realty Partners

Broker

$110.3M

vol

33 deals

Broker
Ivy Realty
Ivy RealtyBrokerage
Ivy Realty
Ivy RealtySeller

Rosedale Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.90%

Cash-on-Cash

-1.97%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93