Catholic Charities Brooklyn & Queens Acquires Mixed-Use Building In Jamaica, Queens For $6.05M
107-67 Merrick Boulevard
$6,050,000
$535/SF
Building Size
11,308 SF
Asset Type
Mixed-use
Closing
Apr 25, 2023
About this deal
AI
The Catholic Charities Brooklyn & Queens has acquired a mixed-use building in Jamaica, Queens, for a total price of $6,050,000. The property, located at 107-67 Merrick Boulevard, spans 11,308 square feet and has a purchase price per square foot of $535. Additionally, the building comes with 5,549 square feet of additional air rights. The transaction was facilitated by Platinum Realty Associates, represented by Peter Young.
Summary of transaction details
- Property Type: Mixed-Use
- Sale Price: $6,050,000
- Building Square Footage: 11,308
- Purchase Price per Square Foot: $535
- Address: 107-67 Merrick Boulevard, Jamaica, Queens
The buyer in this transaction is Catholic Charities Brooklyn & Queens, represented by Emmie Glynn Ryan. The seller, Platinum Realty Associates, facilitated the deal with Peter Young as their representative. This acquisition adds to Catholic Charities Brooklyn & Queens' property portfolio in the area.
On the Map
$6,050,000
$535/SF
Mixed-use
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Players
Queens 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
2.62%
Cash-on-Cash
-0.75%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93