Junjie Sheng Purchases Mixed-Use Property At 5-46 50th Avenue For $4.6M In Long Island City
5-46 50th Avenue
$4,600,000
$886/SF
Building Size
5,190 SF
Asset Type
Mixed-use
Closing
Aug 3, 2026
About this deal
AI
Junjie Sheng acquired a mixed-use property located at 5-46 50th Avenue in Long Island City, Queens. The property encompasses a total area of 5,190 square feet and was sold for a price of $4,600,000, which translates to $886 per square foot.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,600,000
- Address: 5-46 50th Avenue
- Market: Long Island City, Queens
- Square Footage: 5,190
- Price per Square Foot: $886
- Buyer: Junjie Sheng
- Seller: David W. Packer & Margaret M. Lanzetta
The transaction involved Junjie Sheng as the buyer, while the sellers were David W. Packer and Margaret M. Lanzetta. This deal highlights a successful acquisition in the competitive Long Island City market.
Players
Long Island City 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
3.45%
Cash-on-Cash
-0.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93