Cushman & Wakefield And Newmark Broker $80M Sale Of Mixed-Use Property In Flushing, Queens
41-60 Main St Queens, NY 11355, USA
$80,000,000
$796/SF
Building Size
100,500 SF
Asset Type
Mixed-use
Closing
May 8, 2023
AI
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.
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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93