Prashant Patel's Nesting Group Acquires Mixed-Use Property In Corona For $2M
47-14 Junction Boulevard, Queens, New York 11373, United States
$2,000,000
$355/SF
Building Size
5,624 SF
Asset Type
Mixed-use
Closing
May 17, 2022
About this deal
AI
A mixed-use property located at 47-14 Junction Boulevard in Corona has been sold for $2,000,000. The property spans 5,624 square feet, resulting in a price per square foot of $356. The transaction took place on May 18, 2022. Prashant (Shawn) Patel of Nesting Group acted as the buyer, while Benjamin Landi was the seller.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2,000,000
- Address: 47-14 Junction Boulevard, Corona
- Square Footage: 5,624
- Price per Square Foot: $356
- Buyer: Prashant (Shawn) Patel - Nesting Group
- Seller: Benjamin Landi
- Date of Transaction: May 18, 2022
Prashant (Shawn) Patel, representing Nesting Group, acted as the buyer in the sale of the mixed-use property located at 47-14 Junction Boulevard in Corona. Benjamin Landi served as the seller. The transaction, which occurred on May 18, 2022, saw the property change hands for $2,000,000, with a total area of 5,624 square feet and a price per square foot of $356.
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New York Mixed-use Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93