facebook
Traded Co logo
Submit

Andy Zheng Acquires Queens Retail Condo From Wharton Properties For $8M

Property Image
SOLD
$8,000,000
Robert Chattah
Aziz Kabbaj

New York

See Similar Deals
Mixed-use1,906 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

Andy Zheng Acquires Queens Retail Condo From Wharton Properties For $8M

136-11 Roosevelt Ave, Queens, Flushing, NY, USA

See Similar Deals
Mixed-use1,906 SF
Sold
Robert Chattah
Aziz Kabbaj
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$4197
Total Square Footage:1906 SF
Transaction Type:Sale

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

Robert Chattah
Robert Chattah
10 deals$227M volume
BROKER
Aziz Kabbaj
Aziz Kabbaj
8 deals$227M volume
BROKER
Wharton Properties
Wharton Properties
BROKERAGE
Wharton Properties
Wharton Properties
SELLER

Details

SOLD
IMAGE: Robert Chattah, Joseph Sutton, Jeff Sutton & Aziz Kabbaj DATE: 02/25/2019 ADDRESS: 136-11 Roosevelt Ave MARKET: Queens ASSET TYPE: Retail Condo SELLER: Wharton Properties BUYER: Andy Zheng BROKERS: Robert Chattah & Aziz Kabbaj - Sitt Ventures SALE PRICE: $8,000,000 SF: 1,906 ~ PPSF: $4,197 BSF: 5,838 ~ PPBSF: $1,370 NOTE: Sitt Ventures, founded by Robert Chattah is working on a merger. The brokerage will operate under a new name next month.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$426,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98