Cushman & Wakefield And Newmark Broker $80M Sale Of Mixed-Use Property In Flushing, Queens
SOLD
$80,000,000
+ 1
New York
See Similar DealsMixed-use100,500 SF
Sold 05/08/2023
SOLD
Cushman & Wakefield And Newmark Broker $80M Sale Of Mixed-Use Property In Flushing, Queens
41-60 Main St Queens, NY 11355, USA
See Similar DealsMixed-use100,500 SF
Sold 05/08/2023
+ 1
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$796
Total Square Footage:100,500 SF
Transaction Type:Sale
This mixed-use property located at 41-60 Main Street in Flushing, Queens was recently sold in a closed transaction. The property spans 100,500 square feet and was sold for a total price of $80,000,000, resulting in a price per square foot of $796.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $80,000,000
- Address: 41-60 Main Street
- Market: Flushing, Queens
The transaction was facilitated by brokers Daniel O'Brien, Dylan Walsh, and Loren Valla from Cushman & Wakefield, as well as Adam Spies from Newmark. These professionals played a crucial role in representing the involved parties and ensuring a successful sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$284,223.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$379,240.81
Annual Debt Service$4,550,889.77
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