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11117 Northern BLVD, Queens...

Carmelle Bellefleur Purchases Jackson Heights Property From Singh & Mehta LLC For $4.79M
SOLDMultiFamily

Carmelle Bellefleur Purchases Jackson Heights Property From Singh & Mehta LLC For $4.79M

11117 Northern BLVD, Queens, NY, 11...

$4,790,000

$148/SF

Building Size

32,184 SF

Asset Type

MultiFamily

Closing

Apr 30, 2020

AI

111-17 Northern Boulevard is a four-story brick corner apartment building located in Corona, Queens. The property encompasses 32,184 square feet and consists of 38 units, including 29 one-bedroom and 9 two-bedroom apartments. The transaction was finalized at a price of $4,785,000, which equates to $149 per square foot.

Summary of transaction details:

Stephen R. Preuss also played a role in representing the seller, Singh & Mehta LLC, during the transaction. This deal highlights the participation of key representatives involved in facilitating the successful sale of the multifamily property.

Players

Kevin Louie

Ripco

Broker

$1.1B

vol

129 deals

Broker

Jackson Heights MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.31%

Cash-on-Cash

-0.95%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93