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30-79 Steinway St, Long Isl...

Steffan Partridge Acquires Mixed-Use Property On Steinway Street In Astoria, Queens For $2.9M
SOLDMixed-use

Steffan Partridge Acquires Mixed-Use Property On Steinway Street In Astoria, Queens For $2.9M

30-79 Steinway St, Long Island City, NY 11103, USA

$2,900,000

$663/SF

Building Size

4,370 SF

Asset Type

Mixed-use

Closing

Jul 31, 2018

AI

The mixed-use property located at 3079 Steinway Street in Astoria, Queens has been sold for a price of $2,900,000. The property spans a total area of 4,370 square feet, resulting in a price per square foot of $663.62. The transaction was completed at a cap rate of 3.74%.

Summary of transaction details

  • Property Type: Mixed-Use
  • Transaction Amount: $2,900,000
  • Address: 3079 Steinway Street, New York
  • Market: Astoria, Queens
  • Square Footage: 4,370
  • Price Per Square Foot: $663.62
  • Cap Rate: 3.74%

The buyer of the property is Steffan Partridge, while the seller is John Giovanis of Mount Athos LLC. The brokers involved in the deal are Matt Fotis, Lazarus Apostolidis, and Zachary Golub of Marcus [...].

Players

Matt Fotis

Marcus & Millichap

Broker

$598M

vol

111 deals

Broker

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

5.47%

Cash-on-Cash

-1.56%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93