SOLDHotel
Besen Partners Acquires Hotel In Flushing, Queens For $9.6M
31-06 Linden Place
$9,600,000
$672/SF
Building Size
14,284 SF
Asset Type
Hotel
Closing
Dec 7, 2023
AI
The hotel located at 31-06 Linden Place in Flushing, Queens was recently sold in a closed transaction. The property spans 14,284 square feet and was sold for a price of $9,600,000, resulting in a price per square foot of $672.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $9,600,000
- Square Feet: 14,284
- Price Per Square Foot: $672
- Address: 31-06 Linden Place, Flushing, Queens
- Broker: Anudeep Gosal - Besen Partners
Anudeep Gosal of Besen Partners represented the parties involved in this hotel sale.
Players
Flushing Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.65%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93