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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Deal FAQ
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