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400 Northern Boulevard

Richard Zheng Acquires Mixed-Use Property In Great Neck For $2.15M
SOLDMixed-use

Richard Zheng Acquires Mixed-Use Property In Great Neck For $2.15M

400 Northern Boulevard

$2,150,000

$433/SF

Building Size

4,960 SF

Asset Type

Mixed-use

Closing

Mar 14, 2023

AI

The mixed-use property located at 400 Northern Boulevard in Great Neck has been sold in a recent transaction. The property, consisting of a two-story building, traded hands for a sale price of $2,150,000. Spanning a total area of 4,960 square feet, the property is priced at approximately $433 per square foot.

Summary of transaction details

  • Property Type: Mixed-Use
  • Transaction Amount: $2,150,000
  • Address: 400 Northern Boulevard, Great Neck
  • Market: Great Neck

The buyer in this transaction was Richard Zheng, while the seller was Keyin Choi. The deal was facilitated by the brokerage firm Cushman & Wakefield, with Daniel Abbondandolo and Joe Musso representing both the buyer and seller in the transaction.

Zoned as Business - A (B-A), the property features two retail units on the ground floor and a vacant office unit on the second floor, spanning 1,860 square feet. This offers an immediate owner-user opportunity for potential buyers.

Cushman & Wakefield's TEAMABBONDANDOLO successfully represented the seller in the sale of 400 Northern Boulevard. For more information about this transaction, please contact the team directly:

  • TEAMABBONDANDOLO - Capital Markets & Investment Sales
  • Daniel Abbondandolo | Executive Director
  • Phone: 516-375-6336
  • Email: [email protected]

Players

Daniel Abbondandolo

Cushman & Wakefield

Broker

$509.6M

vol

84 deals

Broker

Market 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

7.38%

Cash-on-Cash

-2.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93