Gerald Apollon Acquires Office In Kew Gardens From Gang Xie For $2.4M With Mitra Hakimi As The Broker
124 28 Queens Boulevard
$2,400,000
$769/SF
Building Size
3,118 SF
Asset Type
Office
Closing
Dec 16, 2025
About this deal
AI
The property asset involved in this transaction is an office located at 124-28 Queens Boulevard in the Kew Gardens market. The sale price of the property was $2,400,000, encompassing a total square footage of 3,118, which equates to a price per square foot of $769.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $2,400,000
- Square Footage: 3,118
- Price per Square Foot: $769
- Buyer: Gerald Apollon
- Seller: Gang Xie
- Buyer's Representative: Mitra Hakimi - Mitra Hakimi Realty Group
- Sale Date: 12/17/2025
Mitra Hakimi, representing the buyer Gerald Apollon, has been an active Real Estate Broker in the Kew Gardens, Queens neighborhood since 1986, indicating a long-standing presence and experience in the area.
Kew Gardens 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
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93