SOLDMixed-use
Kim Family Acquires Mixed-Use Property In LIC For $12.1M
4709 5th Street, Long Island City, NY, USA
$12,100,000
$784/SF
Building Size
15,426 SF
Asset Type
Mixed-use
Closing
Feb 26, 2019
About this deal
AI
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.
On the Map
$12,100,000
$784/SF
Mixed-use
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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
1.31%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93