Ken Subraj Of Zara Realty Purchases Mixed-Use Property From Vincent Ragosta For $19.5M
88 22 Parsons Boulevard & 89 21 153rd Street
$19,500,000
$140/SF
Building Size
69,346 SF
Asset Type
Mixed-use
Closing
Aug 30, 2017
About this deal
AI
The property involved in the transaction is a mixed-use asset located at 88 22 Parsons Boulevard in the Jamaica market. It was sold for $19,500,000.00 and has a total square footage of 69,346.0.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $19,500,000.00
- Address: 88 22 Parsons Boulevard
- Market: Jamaica
- Square Footage: 69,346.0
- Seller: Vincent Ragosta
- Buyer: Ken Subraj (Zara Realty)
- Broker: Shlomo Antebi (Atlas Realty Group)
Ken Subraj represented Zara Realty in the acquisition of the property, while Shlomo Antebi from Atlas Realty Group acted on behalf of the seller, Vincent Ragosta, facilitating the completion of the transaction.
Players
Jamaica 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
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93