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246 Northern Boulevard

Updated Nov 24, 2023

Northern Blvd 2626 LLC Acquires Retail Building In Little Neck For $4.1M
SOLDMultiFamily

Northern Blvd 2626 LLC Acquires Retail Building In Little Neck For $4.1M

246 Northern Boulevard

$4,100,000

Building Size

Asset Type

MultiFamily

Closing

Mar 31, 2023

About this deal

AI

A retail building located at 246-15 Northern Boulevard in Little Neck, Queens has been sold for $4.1 million. The property, owned by Lynn Dudgeon King's Long Island Sound Realty Company, spans 3,600 square feet and includes additional air rights. With a total buildable area of 7,934 square feet, the property offers ample space for future development.

Summary of Transaction Details

  • Property Type: Retail
  • Transaction Amount: $4,100,000
  • Market: Little Neck, Queens
  • Building Square Footage: 3,600
  • Price per Square Foot: $1,139
  • Total Buildable Area: 7,934 square feet

The retail building at 246-15 Northern Boulevard was purchased by Northern Blvd 2626 LLC from Lynn Dudgeon King's Long Island Sound Realty Company. This transaction highlights the buyer's interest in acquiring commercial properties in Little Neck, Queens.

Players

New York 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

3.87%

Cash-on-Cash

-1.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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