Court 16 Acquires Mixed-Use Building In Long Island City For $5.2M
13-06 Queens Plaza South
$5,225,000
$475/SF
Building Size
11,000 SF
Asset Type
Mixed-use
Closing
Oct 27, 2023
About this deal
AI
An mixed-use building located at 13-06 Queens Plaza South in Long Island City, Queens has been sold for a total price of $5,225,000. The building has a total square footage of 22,190 and a price per square footage of $235. It consists of 11,000 square feet, which translates to a price per square foot of $475.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,225,000
- Building Square Footage: 22,190
- Price per Square Foot: $235
- Total Square Footage: 11,000
- Price per Square Foot: $475
Court 16, the tennis education firm operating through the entity Court 16 LIC Properties LLC, has acquired the mixed-use building at 13-06 Queens Plaza South from Edward Farrell of Gratz Industries, Inc. The seller, Edward Farrell, was represented by his broker.
Players
Long Island City 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
3.04%
Cash-on-Cash
-0.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93