Jian Chen Acquires Mixed-Use Property In Long Island City, Queens For $2.4M
10-11 49th Avenue, Queens, New York 11101, United States
$2,435,000
$740/SF
Building Size
3,289 SF
Asset Type
Mixed-use
Closing
Apr 17, 2022
About this deal
AI
Located at 10-11 49th Ave. in Long Island City, Queens, this mixed-use property was recently sold in a closed transaction. The sale took place on April 18, 2022, with a sale price of $2,435,000. Spanning across 3,289 square feet, the property offers a price per square foot of $740. The transaction involved the buyer, Jian Chen, and the seller, Joyce Chen. Frank Ko of E Realty International Corp. represented both parties as the broker for this deal.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $2,435,000
- Square Footage: 3,289
- Price Per Square Foot: $740
- Address: 10-11 49th Ave., Long Island City, Queens
- Market: Long Island City, Queens
Jian Chen and Joyce Chen were the key individuals involved in this transaction. Frank Ko, representing E Realty International Corp., served as the broker for both the buyer and the seller. The deal marks a successful closed transaction for all parties involved.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.51%
Cash-on-Cash
-1.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93