Two Tone Contracting Acquires College Point Office Building For $3M
120-10 15th Avenue, Queens, New York 11356, United States
$3,000,000
$392/SF
Building Size
7,642 SF
Asset Type
Office
Closing
Jun 23, 2022
AI
Two Tone Contracting has acquired an office property located at 120-10 15th Ave. in College Point. The transaction was facilitated by Adriana Contavalle from TEK Realty Advisors LLC, representing the buyer, and Frank Ko from FKO Properties, representing the seller, Candice Colucci. The sale took place on June 24, 2022, with a sale price of $3,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,000,000
- Address: 120-10 15th Ave.
- Market: College Point
- Buyer: Two Tone Contracting
- Seller: Candice Colucci
- Buyer's Representative: Adriana Contavalle - TEK Realty Advisors LLC
- Seller's Representative: Frank Ko - FKO Properties
- Square Footage: 7,642
- Price per Square Foot: $393
Adriana Contavalle from TEK Realty Advisors LLC and Frank Ko from FKO Properties played crucial roles in facilitating this transaction. Their expertise and negotiation skills contributed to the successful sale of the office property in College Point.
Players
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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93