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12-15 Jackson Avenue

Jon Petursson Sells Mixed-Use Property On Jackson Ave In Long Island City For $4.5M
SOLDMixed-use

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.

Players

Justin Vance

Nest Seekers International

Broker

$8.2M

vol

2 deals

Broker

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

3.53%

Cash-on-Cash

-1.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93