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Austin Street, Forest Hills...

David Chiang Acquires Mixed-Use Property In Forest Hill, Queens For $2.2M
SOLDMixed-use

David Chiang Acquires Mixed-Use Property In Forest Hill, Queens For $2.2M

Austin Street, Forest Hills, NY, USA

$2,225,000

$794/SF

Building Size

2,800 SF

Asset Type

Mixed-use

Closing

May 5, 2021

AI

A mixed-use property located at 72-02 Austin Street in Forest Hill, Queens was recently sold for $2,225,000. The property spans across 2,800 square feet and was sold at a price of $794 per square foot. The sale took place on 05/06/2021.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $2,225,000
  • SF: 2,800
  • PPSF: $794
  • Address: 72-02 Austin Street, Forest Hill, Queens
  • Market: Forest Hill, Queens

The buyer of the property was David Chiang and the seller was Lewis Stockman. The deal was facilitated by brokers Stephen R. Preuss and Rani Bendary from Cushman & Wakefield, represented by Team Preuss.

Players

Rani Bendary

Cushman & Wakefield

Broker

$20.6M

vol

8 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

7.13%

Cash-on-Cash

-2.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93