Gregory Jerez Acquires Mixed-Use Property In Jamaica, Queens For $1.175M
116-31 Sutphin Blvd, Jamaica, NY 11434, USA
$1,175,000
$34/SF
Building Size
34,300 SF
Asset Type
Mixed-use
Closing
Nov 17, 2018
About this deal
AI
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.
On the Map
$1,175,000
$34/SF
Mixed-use
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Players
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