Jon Petursson Sells Mixed-Use Property On Jackson Ave In Long Island City For $4.5M
12-15 Jackson Avenue
$4,500,000
$1,000/SF
Building Size
4,500 SF
Asset Type
Mixed-use
Closing
Mar 14, 2022
AI
The property involved in this transaction is a mixed-use asset located at 12-15 Jackson Ave. in Long Island City. The sale took place on 03/14/2022, and the property was sold for a price of $4,500,000. The total square footage of the property is 4,500, resulting in a price per square foot of $1,000.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,500,000
- Address: 12-15 Jackson Ave.
- Market: Long Island City
The seller in this transaction was Jon Petursson. The broker representing the seller was Justin Vance from Nest Seekers International. It is worth mentioning that the sale included a vacant contiguous lot that fronts 47th Road, as noted by @NestSeekers.
Justin Vance expressed gratitude for the opportunity to assist the seller with the property sale. The buyer of the property was described as a pleasant individual to work with, and Justin Vance looks forward to seeing what they will do with the property. Justin also mentioned that he engages in leasing and sales in Long Island City and welcomes brokers, buyers, sellers, or anyone interested in the neighborhood to contact him for more information.
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93