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101st St, Queens, NY 11368,...

Sandeep Singh Acquires Mixed-Use Property In South Queens For $1.25M
SOLDMixed-use

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

Vinod Gadura

Broker

$1.3M

vol

1 deal

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

12.69%

Cash-on-Cash

-3.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93