Updated Sep 15, 2026
Frank Jacobs Purchases Medical Office In Astoria For $550,000 With Seller's Rep Michael Lam
30-63 38th Street
$550,000
$342/SF
Building Size
1,606 SF
Asset Type
Medical Office
Closing
Aug 4, 2026
About this deal
AI
The medical office located at 30-63 38th Street in Astoria was sold for $550,000. The property spans 1,606 square feet, resulting in a price per square foot of $342.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $550,000
- Buyer: Frank Jacobs
- Seller: Isiah Conkel
- Seller's Representative: Michael Lam - Landair Advisors
- Market: Astoria
- Square Footage: 1,606
- Price per Square Foot: $342
Michael Lam of Landair Advisors represented the seller in this transaction. The firm successfully took over the listing after a previous broker could not close the deal, applying their investment sales process to secure a hard contract at full asking price in under 60 days, demonstrating their capability across various asset classes.
On the Map
$550,000
$342/SF
Medical Office
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Players
Astoria Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
28.84%
Cash-on-Cash
-8.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93