Milad Family Acquires Mixed-Use Property In Bellerose, Queens For $1.1M
248-09 Jericho Turnpike, Bellerose, NY 11426
$1,100,000
$404/SF
Building Size
2,720 SF
Asset Type
Mixed-use
Closing
May 19, 2022
About this deal
AI
The mixed-use property located at 248-09 Jericho Turnpike in Bellerose, Queens has been sold. The transaction took place on May 20, 2022. The property spans 2,720 square feet and is situated in a bustling market. The sale price for the property was $1,100,000, resulting in a price per square foot of $404.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,100,000
- Date: 05/20/2022
- Address: 248-09 Jericho Turnpike, Bellerose, Queens
- Market: Bellerose, Queens
- Square Footage: 2,720
The property was purchased by the Milad Family from the Usten Family. The transaction was facilitated by Stephen R. Preuss Sr., Kevin Schmitz, Andreas Efthymiou, and Kevin Louie from Ripco Investment Sales, who represented the seller in this deal.
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
14.42%
Cash-on-Cash
-4.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93