Magdaline Family Acquires Mixed-Use Property In Astoria For $2.5M
SOLD
$2,500,000
New York
See Similar DealsMixed-use4,000 SF
Sold 12/15/2022
SOLD
Magdaline Family Acquires Mixed-Use Property In Astoria For $2.5M
28-05 34th Avenue
See Similar DealsMixed-use4,000 SF
Sold 12/15/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$625
Total Square Footage:4,000 SF
Transaction Type:Sale
The mixed-use property located at 28-05 34th Avenue in Astoria has been sold in a recent transaction. The property spans 4,000 square feet and was purchased for a total of $2,500,000, resulting in a price per square foot of $625.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $2,500,000
- Square Footage: 4,000
- Address: 28-05 34th Avenue, Astoria
The buyer in this transaction is the Magdaline Family, while the seller is Vito Giannola. Facilitating the deal was broker Paul Youssef from FTS Capital.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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