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83-12 South Broadway Queens...

Updated Nov 4, 2023

Chengxi Li Acquires Mixed-Use Building In Elmhurst, Queens For $6.8M
SOLDMixed-use

Chengxi Li Acquires Mixed-Use Building In Elmhurst, Queens For $6.8M

83-12 South Broadway Queens, New York 11373, USA

$6,800,000

Building Size

Asset Type

Mixed-use

Closing

Jul 21, 2023

About this deal

AI

The mixed-use building located at 83-12 Broadway in Elmhurst, Queens, has been sold in a recent transaction. The property, known as K4, was acquired by Chengxi Li from Song Lin for a total sale price of $6.8 million. The building spans a total square footage of 25,996 and has a price per square foot of $262.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $6,800,000
  • Address: 83-12 Broadway, Elmhurst, Queens
  • Market: Elmhurst, Queens
  • Buyer: Chengxi Li
  • Seller: Song Lin

Chengxi Li successfully acquired the mixed-use building situated at 83-12 Broadway in Elmhurst, Queens. The transaction was facilitated by 83 Broadway Realty, LLC, acting as the seller's representative. The sale of the property marks a significant milestone in the real estate market of Elmhurst, Queens.

Players

Broadway 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

2.33%

Cash-on-Cash

-0.67%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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