Nuveed Loqman Acquires Mixed-Use Property In South Astoria, Queens For $2M

A mixed-use property located at 31-01 34th Street in South Astoria, Queens has been sold for $2,000,000. The property spans 2,800 square feet, resulting in a price per square foot of $714.

Summary of Transaction Details

• Property Type: Mixed-use
• Transaction Amount: $2,000,000
• Address: 31-01 34th Street
• Market: South Astoria, Queens
• Square Footage: 2,800

The buyer of the property is Nuveed Loqman, while the seller is Joseph Auer. Derek Bestreich, Luke Sproviero, Donal Flaherty, Zac Golub, and Sal Monteverde from Investment Property Realty Group (IPRG) represented the seller in this transaction. Jason Au from Au Consultants Inc served as the mortgage broker.

A note from the broker indicates that the loan amount for the sale was $1,100,000, with an interest rate of 6.25% fixed for 5 years. The loan has a 30-year amortization period and does not carry any pre-payment penalty.