Century Development Group Acquires Office Building In Long Island City For $5.2M
SOLD
$5,200,000
New York
See Similar DealsOffice18,500 SF
Sold 02/19/2021
SOLD
Century Development Group Acquires Office Building In Long Island City For $5.2M
11-03 45th Avenue, Long Island City, NY, USA
See Similar DealsOffice18,500 SF
Sold 02/19/2021
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$281
Total Square Footage:18,500 SF
Transaction Type:Sale
The office building located at 11-03 45th Avenue in Long Island City has been sold for $5,200,000. The property spans 18,500 square feet, resulting in a price per square foot of $281. The transaction took place on February 19, 2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $5,200,000
- Address: 11-03 45th Avenue
- Market: Long Island City
- Buyer: Century Development Group - George Xu
- Seller: Michael Oks
- Square Footage: 18,500
- Price per Square Foot: $281
The buyer in this transaction was Century Development Group, represented by George Xu. The seller was Michael Oks.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$277,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,474.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,650.65
Annual Debt Service$295,807.83
Is there something missing? Send suggestions