The Malekan Family Acquires Mixed-Use Property In New York City For $4.25M
95-06 Roosevelt Ave Queens, NY 11372, USA
$4,250,000
$681/SF
Building Size
6,240 SF
Asset Type
Mixed-use
Closing
May 24, 2023
About this deal
AI
The mixed-use property located at 95-06 Roosevelt Avenue & 40-09 95th Street in New York City has been sold in a recent transaction. The property spans a total of 6,240 square feet and was sold for a price of $4,250,000, resulting in a price per square foot of $681. The transaction took place on May 24, 2023 and the property's cap rate is reported to be 5.5%.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,250,000
- Square Footage: 6,240 sq ft
- Price per Square Foot: $681
- Cap Rate: 5.5%
- Market: New York City
The buyer of the property is the Malekan Family, while the seller is Louis Macari. The deal was facilitated by brokers Stephen R. Preuss Sr., Christian Allimonos, and Andreas Efthymiou from Ripco.
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
3.73%
Cash-on-Cash
-1.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93