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3605 29th Street, Astoria, ...

The Bokhour Family Sells Mixed-Use Property In Astoria For $15.5M
SOLDMixed-use

The Bokhour Family Sells Mixed-Use Property In Astoria For $15.5M

3605 29th Street, Astoria, NY 11106

$15,500,000

$221/SF

Building Size

70,000 SF

Asset Type

Mixed-use

Closing

Jan 31, 2022

AI

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.

Players

Matt Fotis

Marcus & Millichap

Broker

$598M

vol

111 deals

Broker

Bokhour Family

Seller

$46.2M

vol

3 deals

Seller

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

1.02%

Cash-on-Cash

-0.29%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93