Eric Benaim Of BenaimX Partners Sells Mixed-Use Asset In Long Island City For $3.32M
SOLD
$3,320,000
New York
See Similar DealsMixed-use3,000 SF
Sold 02/26/2025
SOLD
Eric Benaim Of BenaimX Partners Sells Mixed-Use Asset In Long Island City For $3.32M
47 31 Vernon Boulevard
See Similar DealsMixed-use3,000 SF
Sold 02/26/2025
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,106
Total Square Footage:3,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$177,066.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,795.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,738.49
Annual Debt Service$188,861.93
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