Rey Nieto Acquires Mixed Use Property In Astoria, New York For $11M
SOLD
$11,000,000
+ 1
New York
See Similar DealsMixed-use17,600 SF
Sold 07/31/2018
SOLD
Rey Nieto Acquires Mixed Use Property In Astoria, New York For $11M
2902 23rd Ave, Long Island City, NY 11105, USA
See Similar DealsMixed-use17,600 SF
Sold 07/31/2018
+ 1
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$625
Total Square Footage:17,600 SF
Transaction Type:Sale
The mixed-use property located at 29-02 23rd Avenue in Astoria, New York has been sold for a total price of $11,000,000. This property spans over 17,600 square feet and has a price per square foot of $625. It consists of 5 retail stores, 18 apartments, and 1 antenna.
Summary of transaction details
- Property Type: Mixed Use
- Transaction Amount: $11,000,000
- Size: 17,600 square feet
- Price per Square Foot: $625
- Units: 5 Retail Stores, 18 Apartments, and 1 Antenna
The seller of the property is Ilias Theodoropoulos, while the buyer is Rey Nieto. Representing the seller in this deal were Theo Kontis and Vincenzo Amato of TEK Realty Advisors. On the buyer's side, Josh Geller of YLG Realty was the broker.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,080.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,145.61
Annual Debt Service$625,747.34
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