NYC School Construction Authority Acquires Mixed-Use Property In College Point, Queens For $36.9M
SOLD
New York
See Similar DealsMixed-use68,400 SF
Sold
SOLD
NYC School Construction Authority Acquires Mixed-Use Property In College Point, Queens For $36.9M
14th Avenue
See Similar DealsMixed-use68,400 SF
Sold
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$539
Total Square Footage:68400 SF
Transaction Type:Sale
The property asset involved in this transaction is a mixed-use building located at 123-15th 14th Avenue in College Point, Queens. It was sold for $36,900,000, encompassing a total area of 68,400 square feet, with a price per square foot of $539.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $36,900,000
- Address: 123-15th 14th Avenue
- Market: College Point, Queens
- Square Footage: 68,400
- Price per Square Foot: $539
- Buyer: NYC School Construction Authority
- Seller: Sisters Of The Order Of St Dominic
- Brokers: Daniel Kaplan, Justin Arzi, John Reinersten, Michael Lee, Tim Sheehan - CBRE
This transaction was represented by multiple brokers from CBRE, including Daniel Kaplan, Justin Arzi, John Reinersten, Michael Lee, and Tim Sheehan, highlighting the collaboration among professionals in the closing of this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,968,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$131,097.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$174,924.83
Annual Debt Service$2,099,097.91
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