Shabbir Ahmed Acquires Mixed-Use Property In Jamaica, Queens For $1.18M
167-16 Hillside Avenue, Jamaica, NY, USA
$1,180,000
$583/SF
Building Size
2,024 SF
Asset Type
Mixed-use
Closing
Apr 19, 2021
About this deal
AI
The mixed-use property located at 167-16 Hillside Ave. in Jamaica, Queens has been sold in a recent transaction. The property is situated in a prime location with a zoning designation of R7X, C2-4. It consists of 2,024 square feet and has a total of 2 units. The sale price for this property was $1,180,000, resulting in a price per square foot (PPSF) of $583. The buyer of the property was Shabbir Ahmed, while Antonios Kilaras acted as the seller.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,180,000
- Address: 167-16 Hillside Ave., Jamaica, Queens
- Market: Queens, New York
- Zoning: R7X, C2-4
Scott Plasky and Billy Stephan from Marcus & Millichap represented both parties in this deal as the brokers. Billy Stephan also shared an image of the property on Instagram.
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
13.44%
Cash-on-Cash
-3.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93