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34-08 Union Street Flushing...

Updated Nov 17, 2023

Zhuang Hong Lin & Xing Yan Zheng Acquires Mixed-Use Building In Flushing, Queens For $4.2M
SOLDMixed-use

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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Deal FAQ

About $714 per square foot on a published $4.2M for 5,875 square feet (2023).

Browse New York mixed use sales on Traded.

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

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