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
About this deal
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
- Property Type: Mixed-use
- Transaction Amount: $1,850,000
- Market: Woodside Queens
- Seller: Liem Huynh & Michelle Nguyen
- Buyer: Hernan Cardenas
- Brokers: Matt Fotis, Paul Youssef, Zac Golub
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.
On the Map
$1,850,000
$552/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
8.57%
Cash-on-Cash
-2.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93