Kufakis Group Acquires Mixed-Use Dev Site In Bayside, Queens For $5.3M
20117 Northern Blvd, Bayside, NY 11361, USA
$5,300,000
$38/SF
Building Size
137,700 SF
Asset Type
Mixed-use
Closing
Mar 20, 2018
About this deal
AI
A mixed-use development site located at 20117-20125 Northern Boulevard in Bayside, Queens has been sold for a record price of $5,300,000. The property, with a total square footage of 13,770 sf, is situated in the Bayside market of New York. The price per square foot of $385 achieved in this transaction is the highest ever recorded in Bayside, Queens.
Summary of transaction details
- Property Type: Mixed-Use Dev Site
- Transaction Amount: $5,300,000
- Address: 20117-20125 Northern Boulevard, Bayside
- City: New York
- Market: Bayside, Queens
- Square Footage: 13,770 sf
- Price per Square Foot: $385
The seller of the property is Barone Holdings and the buyer is Kufakis Group. The transaction was facilitated by Stephen R. Preuss of @CushWake, representing both parties in the deal.
Players
Bayside 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
2.99%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93