James Juhn & George Baharestani Sell Hotel In Long Island City For $17M With Seller's Attorney Gary Rosen, Esq
SOLD
New York
See Similar DealsHotel30,750 SF
Sold 06/30/2023
SOLD
James Juhn & George Baharestani Sell Hotel In Long Island City For $17M With Seller's Attorney Gary Rosen, Esq
38-60 13th St Long Island City, NY 11101, USA
See Similar DealsHotel30,750 SF
Sold 06/30/2023
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$552
Total Square Footage:30,750 SF
Transaction Type:Sale
A hotel located at 38-60 13th Street in Long Island City has been sold for $17,000,000. The property spans approximately 30,750 square feet, resulting in a price per square foot of $553. The transaction took place on June 30, 2023.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $17,000,000
- Address: 38-60 13th Street, Long Island City
- Market: Long Island City
- Seller: James Juhn & George Baharestani
- Seller's Attorney: Gary Rosen, Esq. - Rosen Law LLC
- SF: 30,750
- PPSF: $553
Representing the seller, James Juhn & George Baharestani, was their attorney Gary Rosen from Rosen Law LLC in Great Neck.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$906,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08
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