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115-15 Sutphin Boulevard, J...

David Koptiev Acquires Office In Jamaica, Queens For $1.85M
SOLDOffice

David Koptiev Acquires Office In Jamaica, Queens For $1.85M

115-15 Sutphin Boulevard, Jamaica, NY, USA

$1,850,000

$267/SF

Building Size

6,909 SF

Asset Type

Office

Closing

Jan 28, 2021

AI

An office property located at 115-15 Sutphin Boulevard in Jamaica, Queens has been sold for $1,850,000. The property spans 6,909 square feet and was sold for approximately $267 per square foot. The transaction took place on January 29, 2021. The buyer of the property is David Koptiev, while the seller is the Petracca Family. The property was marketed in the Jamaica, Queens market. The brokers involved in the deal were Stephen R. Preuss, Kevin Schmitz, and Frank Liggio from Team Preuss at CushWake.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $1,850,000
  • Address: 115-15 Sutphin Boulevard, Jamaica, Queens
  • Market: Jamaica, Queens

Stephen R. Preuss, Kevin Schmitz, and Frank Liggio from Team Preuss at CushWake represented the buyer and seller in the transaction.

Players

Frank Liggio

Cushman & Wakefield

Broker

$71.9M

vol

3 deals

Broker

David Koptiev

Buyer

$44.9M

vol

10 deals

Buyer

New York Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.57%

Cash-on-Cash

-2.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93