Ostroff Electrical Contractors Acquires Mixed-use Property In Long Island For $1.3M
181-189 Merrick Boulevard, Queens, NY, USA
$1,325,000
$212/SF
Building Size
6,250 SF
Asset Type
Mixed-use
Closing
Oct 18, 2021
AI
Located at 181-189 Merrick Road in Long Island, this mixed-use property was recently sold in a transaction. The property spans 6,250 square feet and boasts a selling price of $1,325,000, resulting in a price per square foot of $212.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,325,000
- Address: 181-189 Merrick Road, Long Island
- Market: Long Island
Ostroff Electrical Contractors, represented by Elizabeth Holmes from The Rochlin Organization, acquired the property. Acting as the seller's representative was Mike Ferra from Southgate Realty. The transaction marks an important milestone for both parties involved.
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
11.97%
Cash-on-Cash
-3.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93