Zhuang Hong Lin & Xing Yan Zheng Acquires Mixed-Use Building In Flushing, Queens For $4.2M
34-08 Union Street Flushing, New York 11354, USA
$4,200,000
$714/SF
Building Size
5,875 SF
Asset Type
Mixed-use
Closing
May 5, 2023
About this deal
AI
Din Fung Estate Union 3408 LLC, represented by Zhuang Hong Lin and Xing Yan Zheng, has purchased a mixed-use building located at 34-08 Union Street in Flushing, Queens. The property, known as K2, was sold by Joung Ja Choi and Shea Sun Choi for a total of $4.2 million. The building has a total building square footage of 11,807 and a price per building square footage of $356. The total land square footage is 5,875, with a price per square footage of $715.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $4,200,000
- Address: 34-08 Union Street
- Market: Flushing, Queens
Zhuang Hong Lin and Xing Yan Zheng, representing Din Fung Estate Union 3408 LLC, were the buyers in this transaction. Joung Ja Choi and Shea Sun Choi, represented by Joung Ja Choi herself, were the sellers of the property.
Players
New York 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
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93