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31-06 Linden Place

Besen Partners Acquires Hotel In Flushing, Queens For $9.6M
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

Anudeep Gosal

Besen Partners

Broker

$197.8M

vol

17 deals

Broker

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