facebook
Traded Co logo
Submit

Xioajun Pan Acquires Hotel At 137-72 Northern Boulevard In Flushing For $14.5M

Property Image
SOLD
$14,500,000
Steve Zhu
Tony Park
Elad Dror

New York

See Similar Deals
Hotel27,358 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

Xioajun Pan Acquires Hotel At 137-72 Northern Boulevard In Flushing For $14.5M

137-72 Northern Boulevard

See Similar Deals
Hotel27,358 SF
Sold
Steve Zhu
Tony Park
Elad Dror
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Hotel
Price Per Square Foot:$530
Total Square Footage:27358 SF
Transaction Type:Sale

The asset involved in this transaction is a hotel located at 137-72 Northern Boulevard in Flushing. The property was sold for $14,500,000, encompassing a total square footage of 27,358, which translates to a price per square foot of approximately $530.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $14,500,000
  • Address: 137-72 Northern Boulevard
  • Market: Flushing
  • Square Footage: 27,358
  • Price Per Square Foot: $530
  • Buyer: Xioajun Pan
  • Seller: Chon Property
  • Buyer's Representative: Steve Zhu - Compass
  • Seller's Representatives: Elad Dror & Tony Park - PD Properties

Steve Zhu represents the buyer, while Elad Dror and Tony Park represent the seller in this transaction. Note regarding the seller’s representatives: @Pdpropertiesnyc is engaged with numerous hotel sellers and investors. Please inquire for more details.

Players

Elad Dror
PD Properties
Elad Dror
11 deals$153M volume(917) 669-1866
BROKER
Tony Park
Tony Park
13 deals$139.2M volume(646) 843-0374
BROKER
Steve Zhu
Compass
Steve Zhu
3 deals$14.5M volume(917) 569-8850
BROKER

Details

SOLD
IMAGE: Steve Zhu, Elad Dror & Tony Park DATE: 09/19/2024 ADDRESS: 137-72 Northern Boulevard MARKET: Flushing ASSET TYPE: Hotel BUYER: Xioajun Pan SELLER: Chon Property BUYER'S REP: Steve Zhu - Compass (@Compass) SELLER'S REP: Elad Dror & Tony Park - PD Properties (@PDPropertiesNYC) SALE PRICE: $14,500,000 SF: 27,358 ~ PPSF: $530 NOTE FROM SELLER'S REP: @Pdpropertiesnyc is working with many hotel sellers and investors. Please inquire for for more details.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$773,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$51,515.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$68,737.40
Annual Debt Service$824,848.77