Asset Realty And Construction Group Acquires Mixed-Use Property On Rockaway Beach Blvd For $13.5M
114-30 Rockaway Beach Blvd, Rockaway Park, NY 11694, USA
$13,500,000
$795/SF
Building Size
16,971 SF
Asset Type
Mixed-use
Closing
Sep 30, 2020
About this deal
AI
The mixed-use property located at 114-115 Rockaway Beach Blvd in Rockaway Park, Queens has recently undergone a closed transaction. The property, situated in an R5B, C1-3 zoned area, offers a total square footage of 16,971 and has attracted significant attention in the market.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $13,500,000
- Address: 114-115 Rockaway Beach Blvd
- Market: Rockaway Park, Queens
- Zoning: R5B, C1-3
The loan for this transaction was provided by 1st Constitution Bank. The landlord of the property is Asset Realty and Construction Group, represented by Dino Tomassetti. Kathy Anderson, from Progress Capital, served as the broker in this deal.
On the Map
$13,500,000
$795/SF
Mixed-use
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New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93