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:
- 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
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