David Chiang Acquires Mixed-Use Property In Forest Hill, Queens For $2.2M
SOLD
$2,225,000
New York
See Similar DealsMixed-use2,800 SF
Sold 05/06/2021
SOLD
David Chiang Acquires Mixed-Use Property In Forest Hill, Queens For $2.2M
Austin Street, Forest Hills, NY, USA
See Similar DealsMixed-use2,800 SF
Sold 05/06/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$794
Total Square Footage:2,800 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$118,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,904.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,547.64
Annual Debt Service$126,571.62
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