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
$17,000,000
$552/SF
Building Size
30,750 SF
Asset Type
Hotel
Closing
Jun 30, 2023
AI
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.
Players
Market Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93