Updated Nov 17, 2023
Ling Jieng Zheng Acquires Industrial Building In Elmhurst, Queens For $5.7M
79-38 Woodside Ave Queens, NY 11373, USA
$5,650,000
$1,295/SF
Building Size
4,360 SF
Asset Type
Industrial
Closing
May 23, 2023
About this deal
AI
Ling Jieng Zheng has purchased an industrial building located at 79-38 Woodside Avenue in Elmhurst, Queens. The property was sold for a total of $5.7 million. It consists of an existing space of 4,360 square feet and has an additional 26,068 square feet of air rights. This allows for a total buildable space of 30,400 square feet.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $5,650,000
- Buyer: Ling Jieng Zheng
- Seller: Shanglin C.H. Chou & Kong Shun Wang
The sale was finalized on May 23, 2023 in the Elmhurst market of Queens. Ling Jieng Zheng, represented by their broker, acquired the property from Shanglin C.H. Chou & Kong Shun Wang.
Players
New York Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.81%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93