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10-11 49th Avenue, Queens, ...

Jian Chen Acquires Mixed-Use Property In Long Island City, Queens For $2.4M
SOLDMixed-use

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

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

Frank Ko

Broker

$19.6M

vol

14 deals

Broker

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