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47 31 Vernon Boulevard

Eric Benaim Of BenaimX Partners Sells Mixed-Use Asset In Long Island City For $3.32M
SOLDMixed-use

Eric Benaim Of BenaimX Partners Sells Mixed-Use Asset In Long Island City For $3.32M

47 31 Vernon Boulevard

$3,320,000

$1,106/SF

Building Size

3,000 SF

Asset Type

Mixed-use

Closing

Feb 26, 2025

AI

The asset involved in this transaction is a mixed-use property located at 47-31 Vernon Boulevard in Long Island City. The sale price for the property was $3,320,000, with a total square footage of 3,000, resulting in a price per square foot of $1,106.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $3,320,000
  • Address: 47-31 Vernon Boulevard
  • Market: Long Island City
  • Square Footage: 3,000
  • Price Per Square Foot: $1,106
  • Seller: Eric Benaim - BenaimX Partners
  • Broker: Mary Beth McGill - Modern Spaces

Eric Benaim represented BenaimX Partners in the sale, while Mary Beth McGill acted as the broker representing the transaction through Modern Spaces. The transaction occurred on February 26, 2025.

Players

Mary Beth McGill

Modern Spaces

Broker

$3.3M

vol

1 deal

Broker
Eric Benaim

Eric Benaim

Seller

$473.7M

vol

8 deals

Seller

Long Island City 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

4.78%

Cash-on-Cash

-1.37%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93