Andy Zheng Acquires Queens Retail Condo From Wharton Properties For $8M
136-11 Roosevelt Ave, Queens, Flushing, NY, USA
$8,000,000
$4,197/SF
Building Size
1,906 SF
Asset Type
Mixed-use
Closing
Feb 24, 2019
About this deal
AI
A retail condo located at 136-11 Roosevelt Ave in Queens has been sold for $8,000,000. The property spans 1,906 square feet, resulting in a price per square foot of $4,197. Additionally, the building's total square footage is 5,838, which translates to a price per building square foot of $1,370. The transaction took place on February 25, 2019.
Summary of transation details
- Property Type: Retail Condo
- Transaction Amount: $8,000,000
- Address: 136-11 Roosevelt Ave
- Market: Queens
- SF: 1,906
- PPSF: $4,197
- BSF: 5,838
- PPBSF: $1,370
The seller of the property was Wharton Properties, while the buyer was Andy Zheng. Robert Chattah and Aziz Kabbaj from Sitt Ventures represented both parties in the deal. It is worth noting that Sitt Ventures, founded by Robert Chattah, is currently in the process of a merger and will operate under a new name starting next month.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Deal FAQ
About $4.2K per square foot on a published $8M for 1,906 square feet (2019).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93