Joe Lasala & Armand Baklajian Acquire Mixed-use Property In Middle Village, Queens For $3.8M
74-11 Metropolitan Avenue, Middle Village, Queens County, NY, USA
$3,800,000
$826/SF
Building Size
4,600 SF
Asset Type
Mixed-use
Closing
Jun 29, 2020
About this deal
AI
Located in Middle Village, Queens, the mixed-use property at 74-11 Metropolitan Avenue has been sold for $3,800,000. The property spans 4,600 square feet, resulting in a price per square foot of $826. The transaction took place on June 30, 2020.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $3,800,000
- Address: 74-11 Metropolitan Avenue
- Market: Middle Village, Queens
The seller of the property was Andy Kang, while the buyers were Joe Lasala and Armand Baklajian. Stephen R. Preuss, Kevin Louie, and Maurice Suede, representing Cushman & Wakefield @TeamPreuss, served as the brokers for this transaction.
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
4.17%
Cash-on-Cash
-1.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93