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

Property Image
SOLD
$4,790,000
Kevin Louie
Amit Doshi
Stephen R. Preuss Sr.
+ 1

New York

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MultiFamily32,184 SF
Sold 04/30/2020
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Property Image
SOLD

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

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

See Similar Deals
MultiFamily32,184 SF
Sold 04/30/2020
Kevin Louie
Amit Doshi
Stephen R. Preuss Sr.
+ 1
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$148
Total Square Footage:32,184 SF
Transaction Type:Sale

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:

  • Property Type: Multifamily
  • Transaction Amount: $4,785,000
  • Property Address: 11117 Northern BLVD, Queens, NY
  • Market: Jackson Heights
  • Buyer: Carmelle Bellefleur
  • Seller: Singh & Mehta LLC
  • Buyer’s Representative: Amit Doshi (Meridian Capital Group)
  • Seller’s Representative: Kevin Louie (Ripco)

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
Kevin Louie
126 deals$1B volume(718) 663-2642
BROKER
Stephen R. Preuss Sr.
Ripco
Stephen R. Preuss Sr.
259 deals$2B volume(718) 663-2639
BROKER
Amit Doshi
Meridian Capital Group
Amit Doshi
87 deals$1.3B volume
BROKER
CB
Carmelle Bellefleur
3 deals$14.2M volume
BROKER

Details

SOLD
IMAGE: 11117 Northern BLVD, Queens, NY, 11... MARKET: Jackson Heights BUYER'S REP: Amit Doshi(Meridian Capital Group) SELLER'S REP: Kevin Louie(Ripco) BUYER: Carmelle Bellefleur SELLER: Singh & Mehta LLC PRICE: $4,790,000.00 SF: 32184

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$255,466.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,017.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,707.04
Annual Debt Service$272,484.52