David Gomez And Peak Capital Acquire Mixed-Use Property In Queens For $2.35M
39-29 47th Ave, Long Island City, NY 11104, USA
Building Size
6,700 SF
Asset Type
Mixed-use
Closing
Jan 24, 2018
About this deal
AI
The mixed-use property located at 3929 47th Avenue in New York City's Queens neighborhood has been sold in a closed transaction. The property comprises a total of 6,700 square feet and was purchased for a price of $2,345,000, resulting in a price per square foot of $350. The transaction took place on January 25, 2018, with the buyer, David Gomez, and Peak Capital acquiring the property from the seller, The Rocco Iocco Trust.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $2,345,000
- Address: 3929 47th Avenue
- City: New York
- Market: Queens
- Square Footage: 6,700 sf
- Price per Square Foot: $350
- Seller: The Rocco Iocco Trust
- Buyer: David Gomez and Peak Capital
The purchase of the property was completed in an off-market transaction, with David Gomez and Peak Capital acquiring the building in an all-cash deal.
Players
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93