Ivy Realty Sells Retail Property In Queens For $2.3M
SOLD
$2,300,000
New York
See Similar DealsDevelopment Site24,000 SF
Sold 10/24/2023
SOLD
Ivy Realty Sells Retail Property In Queens For $2.3M
240-10 Merrick Boulevard
See Similar DealsDevelopment Site24,000 SF
Sold 10/24/2023
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$95
Total Square Footage:24,000 SF
Transaction Type:Sale
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
BROKERAGE
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$122,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,171.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,903.17
Annual Debt Service$130,838.08
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