Joseph Yunatanov & Danielle Sarah Ben-Ishay Acquire Jamaica, Queens Hotel For $14.9M
89-34 162nd St Queens, NY 11432, USA
$14,950,000
$494/SF
Building Size
30,266 SF
Asset Type
Hotel
Closing
Jul 28, 2023
About this deal
AI
The hotel building located at 89-34 162nd Street in Jamaica, Queens has been sold for a total price of $14.9 million. The property has a total square footage of 30,266 and a price per square foot of $493. The buyer of the hotel is Joseph Yunatanov and Danielle Sarah Ben-Ishay, while the seller is Rajendra R. Patel's Goldmine Management LLC. This transaction took place on 07/28/2023.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $14,950,000
- Square Footage: 30,266
- Price per Square Foot: $493
- Address: 89-34 162nd Street, Jamaica, Queens
- Buyer: Joseph Yunatanov & Danielle Sarah Ben-Ishay
- Seller: Rajendra R. Patel
Joseph Yunatanov and Danielle Sarah Ben-Ishay have successfully acquired the hotel building at 89-34 162nd Street in Jamaica, Queens. The transaction was completed with the sale price of $14.9 million. This purchase was made from Rajendra R. Patel's Goldmine Management LLC. The hotel property features a total of 30,266 square feet and is located in the market of Jamaica, Queens.
Players
Jamaica Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93