RW Real Estate Acquires Mixed-Use Property In Elmhurst For $5.35M Featuring Sellers Messina Family And Brokers Michael Guttman, Aaron Jungreis
SOLD
$5,350,000
New York
See Similar DealsMixed-use143,000 SF
Sold 05/17/2019
SOLD
RW Real Estate Acquires Mixed-Use Property In Elmhurst For $5.35M Featuring Sellers Messina Family And Brokers Michael Guttman, Aaron Jungreis
40-08 Warren St #06, Queens, NY 11373, USA
See Similar DealsMixed-use143,000 SF
Sold 05/17/2019
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$37
Total Square Footage:143,000 SF
Transaction Type:Sale
The mixed-use property located at 40-04, 40-06, and 40-08 Warren Street in Elmhurst has been sold for a total of $5,350,000. The property spans 14,300 square feet and was sold at a price of $374 per square foot. The gross income generated by the property is $475,000. The transaction took place on May 17, 2019.
Summary of transaction details
- Property Type: Mixed-use
- Sale Price: $5,350,000
- Square Footage: 14,300
- Price per Square Foot: $374
- Gross Income: $475,000
- Market: Elmhurst
The seller of the property was the Messina Family, while the buyer was RW Real Estate represented by Corey Horowitz. The transaction was facilitated by brokers Michael Guttman and Aaron Jungreis.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$285,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,007.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,361.73
Annual Debt Service$304,340.75
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