Isaac Turkieh Acquires Best Western Hotel In Corona For $4.25M
SOLD
$4,250,000
New York
See Similar DealsMixed-use38,798 SF
Sold 07/14/2020
SOLD
Isaac Turkieh Acquires Best Western Hotel In Corona For $4.25M
112-26 Roosevelt Ave, Corona, NY 11368, USA
See Similar DealsMixed-use38,798 SF
Sold 07/14/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$109
Total Square Footage:38,798 SF
Transaction Type:Sale
The Best Western Hotel located at 112-26 Roosevelt Avenue in Corona, LaGuardia Airport has been sold for a price of $4,250,000. The mixed-use property spans across 38,798 square feet, resulting in a price per square foot of $109.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,250,000
- Address: 112-26 Roosevelt Avenue
- Market: Corona, LaGuardia Airport
- Square Footage: 38,798
- Price per Square Foot: $109
The seller of the property was Shahen Guiragossian, while the buyer was Isaac Turkieh. The deal was facilitated by Charles Chang of Highcap Group. It is worth noting that the Best Western Hotel comes with a 90-key capacity and has a triple-net lease in place for another 47 years.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$226,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,099.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,147.17
Annual Debt Service$241,766.02
Is there something missing? Send suggestions