AKI Development Acquires Mixed-Use Development Site In Long Island City For $2.4M
37-29 32nd Street, Long Island City, NY, USA
$2,400,000
$255/SF
Building Size
9,400 SF
Asset Type
Mixed-use
Closing
Apr 1, 2018
About this deal
AI
A mixed-use development site located at 37-29 32nd Street in Long Island City, New York has been sold for a price of $2,400,000. The property, with a total square footage of 9,400 sf, is situated in the Queens market.
Summary of transation details
- Property Type: Mixed-Use Development Site
- Transaction Amount: $2,400,000
- Address: 37-29 32nd Street, Long Island City, New York
- Market: Queens
Klirou LLC, represented by Natalie Christop, was the seller of the property. The buyer, AKI Development, successfully acquired the site. The deal was facilitated by Jeffrey Harris, a broker from Voyeur Real Estate.
It is noteworthy that this transaction was completed on April 2, 2018, and the price per square foot (PPBSF) was calculated to be $255.
Players
Long Island City 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
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93