Sandeep Singh Acquires Mixed-Use Property In South Queens For $1.25M
101st St, Queens, NY 11368, USA
$1,250,000
$300/SF
Building Size
4,154 SF
Asset Type
Mixed-use
Closing
Jul 2, 2019
AI
A mixed-use property located at 101-17, 19 101st Avenue in South Queens recently changed hands in a closed transaction. The property spans 4,154 square feet and was sold at a sale price of $1,250,000. The asking price for the property was $1,400,000, indicating a negotiation of $150,000 below the initial asking price. With a price per square foot of $300, the property showcases its value within the market.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,250,000
- Market: South Queens
- Address: 101-17, 19 101st Avenue
- Square Footage: 4,154
The seller of the property was Michael Napolitano, while the buyer was Sandeep Singh. Representing the buyer and seller were brokers Vinod Gadura and Avnish Kumar from Raj. Their expertise and negotiation skills played a crucial role in the successful completion of this transaction.
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
12.69%
Cash-on-Cash
-3.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93