The Bokhour Family Sells Mixed-Use Property In Astoria For $15.5M
SOLD
$15,500,000
New York
See Similar DealsMixed-use70,000 SF
Sold 01/31/2022
SOLD
The Bokhour Family Sells Mixed-Use Property In Astoria For $15.5M
3605 29th Street, Astoria, NY 11106
See Similar DealsMixed-use70,000 SF
Sold 01/31/2022
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 3605 29th Street in Astoria was recently sold for a price of $15,500,000. The transaction took place on January 31, 2022, and involved the Bokhour Family as the seller. The property spans an area of approximately 70,000 square feet, resulting in a price per square foot of $221.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $15,500,000
- Address: 3605 29th Street
- Market: Astoria
The representatives for the seller in this deal were Matt Fotis and Lazarus Apostolidis, who work for Marcus & Millichap. Their expertise in the market played a crucial role in facilitating the successful sale of the property.
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Deal Type
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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