Magdaline Family Acquires Mixed-Use Property In Astoria For $2.5M
28-05 34th Avenue
$2,500,000
$625/SF
Building Size
4,000 SF
Asset Type
Mixed-use
Closing
Dec 15, 2022
AI
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.
Players
Astoria 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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93