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53-19 Roosevelt Ave, Flushi...

Hernan Cardenas Acquires Mixed-Use Property In Woodside Queens For $1.85M
SOLDMixed-use

Hernan Cardenas Acquires Mixed-Use Property In Woodside Queens For $1.85M

53-19 Roosevelt Ave, Flushing, NY 11377, USA

$1,850,000

$552/SF

Building Size

3,348 SF

Asset Type

Mixed-use

Closing

May 5, 2019

AI

Located at 53-19 Roosevelt Avenue in Woodside Queens, this mixed-use property was recently sold in a closed transaction. The property features a total of 3,348 square feet, with a price per square foot of $552. The asking price for the property was $2,400,000, however, it was eventually sold for $1,850,000.

Summary of transation details

This transaction was facilitated by Matt Fotis, Paul Youssef, and Zac Golub, serving as brokers in the deal. The property's unique characteristics, including its prime location in Woodside Queens, make it a rare find in the market. The transaction involved the seller, Liem Huynh & Michelle Nguyen, and the buyer, Hernan Cardenas, who saw great potential in this mixed-use building.

Players

Matt Fotis

Marcus & Millichap

Broker

$598M

vol

111 deals

Broker

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

8.57%

Cash-on-Cash

-2.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93