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XIN Development Group International Acquires Property In Jackson Heights For $66M With Christina Ying As Seller's Representative

Property Image
SOLD
$66,000,000

New York

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MultiFamily372,598 SF
Sold
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Property Image
SOLD

XIN Development Group International Acquires Property In Jackson Heights For $66M With Christina Ying As Seller's Representative

13535 Northern BLVD, Queens, NY, 11...

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MultiFamily372,598 SF
Sold
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$177
Total Square Footage:372598 SF
Transaction Type:Sale

The property asset, located at 13535 Northern BLVD, Queens, NY, is situated in the Jackson Heights market. The transaction was completed for a price of $66,000,000.00 with a total square footage of 372,598.

Summary of transaction details:

  • Property Type: Sale
  • Transaction Amount: $66,000,000.00
  • Address: 13535 Northern BLVD, Queens, NY
  • Market: Jackson Heights
  • Seller's Representative: Christina Ying (Herrick Feinstein)
  • Buyer: XIN Development Group International

Christina Ying represented the seller in this transaction, while the buyer, XIN Development Group International, finalized the purchase of the property located in a key commercial area.

Players

CY
Herrick Feinstein
Christina Ying
1 deal$66M volume
BROKER
XI
Xin Development Group International
BUYER

Details

SOLD
IMAGE: 13535 Northern BLVD, Queens, NY, 11... MARKET: Jackson Heights SELLER'S REP: Christina Ying(Herrick Feinstein) BUYER: XIN Development Group International SELLER: PRICE: $66,000,000.00 SF: 372598

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

$3,520,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$234,484.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$312,873.67
Annual Debt Service$3,754,484.06