Rocco Family Acquires Mixed-Use Property In Astoria For $15.5M
SOLD
$15,500,000
New York
See Similar DealsMixed-use70,000 SF
Sold 02/28/2022
SOLD
Rocco Family Acquires Mixed-Use Property In Astoria For $15.5M
36-05 29th Street, Queens, New York 11106, United States
See Similar DealsMixed-use70,000 SF
Sold 02/28/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$221
Total Square Footage:70,000 SF
Transaction Type:Sale
The mixed-use property located at 36-05 29th St. in Astoria has been sold. The property spans approximately 70,000 square feet and was sold for a total of $15,500,000. This translates to a price per square foot of $221. The transaction took place on February 28, 2022.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $15,500,000
- Date: 02/28/2022
- Address: 36-05 29th St.
- Market: Astoria
- Square Footage: 70,000
- Price per Square Foot: $221
The buyer of the property was the Rocco Family, while the seller was the Bokhour Family. The transaction was facilitated by Paul Youssef, who represented the buyer as their broker.
Players
BROKERAGE
Details
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$826,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$55,068.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$73,477.91
Annual Debt Service$881,734.89
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