Mina Farah Acquires Mixed-Use Building On Liberty Avenue In Queens For $2.55M
120-20 Liberty Avenue, Queens, Jamaica, NY, USA
$2,550,000
$658/SF
Building Size
3,875 SF
Asset Type
Mixed-use
Closing
Aug 30, 2021
About this deal
AI
Located at 120-20 Liberty Avenue in Queens, this mixed-use property recently changed hands in a sale transaction. The property was sold on August 31, 2021, for a price of $2,550,000. The building spans 3,875 square feet, resulting in a price per square foot of $658. The transaction involved a 6-unit mixed-use building that is currently fully occupied.
Summary of transaction details:
- Property Type: Mixed-use
- Sale Price: $2,550,000
- Square Footage: 3,875
- Price per Square Foot: $658
Mina Farah was the buyer of the property, while Sammy Aranbayev acted as the seller. The sale was facilitated by Scott Plasky and Billy Stephan of Marcus & Millichap. It's worth noting that the property was 100% occupied at the time of the transaction.
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
6.22%
Cash-on-Cash
-1.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93