Salah Alsaidi Buys Mixed-Use Asset From Crestline Holdings In Richmond Hill For $1.06M
SOLD
$1,060,000
+ 1
New York
See Similar DealsMixed-use2,964 SF
Sold 05/10/2024
SOLD
Salah Alsaidi Buys Mixed-Use Asset From Crestline Holdings In Richmond Hill For $1.06M
117-08 Jamaica Avenue
See Similar DealsMixed-use2,964 SF
Sold 05/10/2024
+ 1
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$357
Total Square Footage:2,964 SF
Transaction Type:Sale
117-08 Jamaica Avenue is a mixed-use property located in Richmond Hill, Queens, that was recently sold for $1,060,000 at a price per square foot of $358. The transaction, which took place on 05/10/2024, involved a total square footage of 2,964 and yielded a capitalization rate of 5.3%.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,060,000
- Buyer: Salah Alsaidi
- Seller: Crestline Holdings
- Brokers: Stephen R. Preuss Sr., Andreas Efthymiou, Christian Allimonos, & Kevin Schmitz - Ripco
- Market: Richmond Hill, Queens
The deal was facilitated by a team of brokers from Ripco, including Stephen R. Preuss Sr., Andreas Efthymiou, Christian Allimonos, and Kevin Schmitz. This transaction brought together Salah Alsaidi as the buyer and Crestline Holdings as the seller, showcasing the collaborative effort between these key individuals and companies.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$56,533.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,765.97
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,024.94
Annual Debt Service$60,299.29
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