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
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