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
About this deal
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
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