Dae Cho Acquires Mixed-use Property In Flushing, Queens For $1M
161-15 29th Avenue, Flushing, Queens County, NY, USA
$1,000,000
$458/SF
Building Size
2,180 SF
Asset Type
Mixed-use
Closing
Nov 10, 2021
AI
Located in Flushing, Queens, the mixed-use property at 161-15 29th Avenue has recently been sold for $1,000,000. Spanning across 2,180 square feet, the property was acquired by Dae Cho from Carol Halmy. The transaction took place on November 10, 2021. The property features a price per square foot of $458.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,000,000
- Address: 161-15 29th Avenue, Flushing, Queens
- Buyer: Dae Cho
- Seller: Carol Halmy
- Seller's Representative: Stephen R. Preuss SR, Kevin Louie, Charlie Dupont
The deal was facilitated by Stephen R. Preuss SR, Kevin Louie, and Charlie Dupont, who served as the seller's representatives. Their expertise and negotiation skills played a pivotal role in completing the transaction successfully. This sale marks a significant investment in the vibrant Flushing market, further solidifying its appeal as a prime location for real estate opportunities.
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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93