Kim Family Acquires Mixed-Use Property In LIC For $12.1M
SOLD
$12,100,000
New York
See Similar DealsMixed-use15,426 SF
Sold 02/27/2019
SOLD
Kim Family Acquires Mixed-Use Property In LIC For $12.1M
4709 5th Street, Long Island City, NY, USA
See Similar DealsMixed-use15,426 SF
Sold 02/27/2019
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$784
Total Square Footage:15,426 SF
Transaction Type:Sale
A mixed-use property located at 47-09 5th St. in LIC has been sold for a price of $12,100,000. The property spans across 15,426 square feet, resulting in a price per square foot of $784. The transaction took place on February 27, 2019. The seller of the property was Steve Tallides, while the buyer was the Kim Family. The deal was facilitated by brokers Evan Daniel and Ashley Grebow from Modern Spaces.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $12,100,000
- Address: 47-09 5th St.
- Market: LIC
- Square Footage: 15,426
- Price per Square Foot: $784
- Seller: Steve Tallides
- Buyer: Kim Family
- Brokers: Evan Daniel & Ashley Grebow @modernspaces
Ashley Grebow and Evan Daniel from Modern Spaces played a crucial role in representing the buyer and seller, respectively, during the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$645,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,988.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$57,360.17
Annual Debt Service$688,322.08
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