Gregory Jerez Acquires Mixed-Use Property In Jamaica, Queens For $1.175M
SOLD
$1,175,000
+ 2
New York
See Similar DealsMixed-use34,300 SF
Sold
SOLD
Gregory Jerez Acquires Mixed-Use Property In Jamaica, Queens For $1.175M
116-31 Sutphin Blvd, Jamaica, NY 11434, USA
See Similar DealsMixed-use34,300 SF
Sold
+ 2
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$34
Total Square Footage:34,300 SF
Transaction Type:Sale
Located at 116-31 Sutphin Boulevard in Jamaica, Queens, this mixed-use property recently changed hands in a closed transaction. The property spans a total of 3,430 square feet and features three separate retail units with individual basements. The transaction, which took place on November 18, 2018, involved a sale price of $1,175,000 and a price per square foot of $350. The property's capitalization rate is reported to be 5%.
Summary of transation details
- Property Type: Mixed use
- Transaction Amount: $1,175,000
- Square Footage: 3,430 SF
- Address: 116-31 Sutphin Boulevard, Jamaica, Queens
- Market: Jamaica, Queens
The seller in this transaction was Eugene Tamarov, while the buyer was Gregory Jerez. AssetCRG's Albert Aranbaev, Yuriy Ustoyev, and Mark Akilov represented both parties as brokers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$62,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,174.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,570.10
Annual Debt Service$66,841.19
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