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55-26 Main St, Flushing, NY...

Wei Zhang Acquires Mixed-Use Property On Main St, Flushing For $2.2M
SOLDMixed-use

Wei Zhang Acquires Mixed-Use Property On Main St, Flushing For $2.2M

55-26 Main St, Flushing, NY, USA

$2,200,000

$344/SF

Building Size

6,386 SF

Asset Type

Mixed-use

Closing

Jan 19, 2021

AI

A mixed-use property located at 55-26 & 55-28 Main St. in Flushing has been sold for $2,200,000. The property encompasses 6,386 square feet, resulting in a price per square foot of $344. The transaction took place on January 20, 2021.

Summary of transation details

  • Property Type: Mixed-use
  • Transaction Amount: $2,200,000
  • Square Footage: 6,386
  • Price per Square Foot: $344
  • Address: 55-26 & 55-28 Main St., Flushing
  • Market: Flushing

The buyer of the property is Wei Zhang, while Michael Katz served as the seller. The transaction was facilitated by brokers Stephen R. Preuss and Kevin Louie from TeamPreuss at CushWake.

Players

Kevin Louie

Ripco

Broker

$1B

vol

126 deals

Broker
Michael Katz

Michael Katz

Seller

$231.9M

vol

6 deals

Seller

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

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93