Neel Dvivedi Purchases Industrial And Mixed-Use Property In Long Island City For $5.9M
50-16 Vernon Boulevard & 50-14 Vernon Boulevard
$5,900,000
$590/SF
Building Size
10,000 SF
Asset Type
Mixed-use
Closing
Jun 16, 2026
AI
Neel Dvivedi purchased a 10,000-square-foot industrial and mixed-use property located at 50-16 and 50-14 Vernon Boulevard in Long Island City, Queens, for a total of $5,900,000. The transaction closed with a price per square foot amounting to $590.
Summary of transaction details:
- Property Type: Industrial & Mixed-use
- Transaction Amount: $5,900,000
- Buyer: Neel Dvivedi
- Seller: Charles Marino
- Market: Long Island City, Queens
- Square Footage: 10,000
- Price per Square Foot: $590
- Sale Date: 06/16/2026
In this transaction, Neel Dvivedi and Charles Marino facilitated the sale of the property without the involvement of additional parties representing either side in the deal.
Players
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.69%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93