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Stephen R. Preuss Sr., Andreas Efthymiou & Joshua Kleinberg Sell Sunnyside Office For $20M

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SOLD
$20,000,000
Max Jacobson
Andreas Efthymiou
+ 2

New York

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Industrial
Sold 12/21/2021
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Property Image
SOLD

Stephen R. Preuss Sr., Andreas Efthymiou & Joshua Kleinberg Sell Sunnyside Office For $20M

38-09 43rd Avenue, Queens, New York 11377, United States

See Similar Deals
Industrial
Sold 12/21/2021
Max Jacobson
Andreas Efthymiou
+ 2
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Summary

NEW YORK
Asset Type:Industrial
Transaction Type:Sale

An office property located at 38-09 43rd Avenue in Sunnyside has been sold for a price of $20,000,000. The property spans across 72,000 square feet, resulting in a price per square foot of $277. The sale took place on December 21, 2021, with Stephen R. Preuss Sr., Andreas Efthymiou, and Joshua Kleinberg representing the seller.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $20,000,000
  • Address: 38-09 43rd Avenue
  • Market: Sunnyside
  • Square Footage: 72,000
  • Price per Square Foot: $277
  • Seller's Representatives: Stephen R. Preuss Sr., Andreas Efthymiou, & Joshua Kleinberg

The individuals who facilitated the transaction were Stephen R. Preuss Sr., Andreas Efthymiou, and Joshua Kleinberg. They represented the seller in this office property sale in Sunnyside. The deal concluded on December 21, 2021, with a sale price of $20,000,000 and a total area of 72,000 square feet at a price per square foot of $277.

Players

Andreas Efthymiou
128 deals$1.1B volume(718) 663-2643
BROKER

Stephen R. Preuss Sr.
Ripco
259 deals$2B volume(718) 663-2639
BROKER

David Oheb
Meridian Capital Group
77 deals$821.5M volume(212) 612-0193
BROKER

Max Jacobson
Meridian Capital Group
36 deals$264.4M volume
BROKER

Joshua Kleinberg
Colliers
6 deals$26.7M volume(347) 368-9160
BROKER

New York Community Bank
LENDER

Details

SOLD
IMAGE: Andreas Efthymiou, Stephen R. Preuss Sr. & Joshua Kleinberg DATE: 12/21/2021 ADDRESS: 38-09 43rd Avenue MARKET: Sunnyside ASSET TYPE: Office SELLER'S REP: Stephen R. Preuss Sr., Andreas Efthymiou (@Andreas.E_Investment_Sales), & Joshua Kleinberg SALE PRICE: $20,000,000 SF: 72,000 ~ PPSF: $277

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,066,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44