Mike Mowla Acquires Mixed-Use Property On Atlantic Ave. In Richmond Hill, Queens For $1.175M
113-13 Atlantic Avenue, Queens, New York 11418, United States
$1,175,000
$226/SF
Building Size
5,200 SF
Asset Type
Mixed-use
Closing
Apr 24, 2022
AI
A mixed-use property located at 113-13 Atlantic Ave in Richmond Hill, Queens has been sold for a price of $1,175,000. The property spans an area of 5,200 square feet with a price per square foot of $225. The sale took place on 04/25/2022.
Summary of transaction details
- Property Type: Mixed-use
- Sale Price: $1,175,000
- Square Footage: 5,200
- Price Per Square Foot: $225
- Address: 113-13 Atlantic Ave.
- Market: Richmond Hill, Queens
The buyer, Mike Mowla, acquired the property from the seller, Isak Isakov. The transaction was facilitated by Yuriy Ustoyev from Asset CRG Advisors, LLC. Yuriy Ustoyev represented the seller in the deal.
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
13.50%
Cash-on-Cash
-3.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93