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
About this deal
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.
On the Map
$2,225,000
$794/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
7.13%
Cash-on-Cash
-2.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93