SOLDOffice
Prestige Property New York LLC Acquires Office Building In Flushing, Queens For $17.1M
129-09 26th Ave, Flushing, NY 11354, USA
Building Size
60,000 SF
Asset Type
Office
Closing
Jan 9, 2018
About this deal
AI
The property at 129-09 26th Avenue in Flushing, Queens, New York, has been sold in a closed transaction. The office building spans across 60,000 square feet and consists of 12 units. The transaction price for the property was $17,100,000, with a price per square foot of $285.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $17,100,000
- Address: 129-09 26th Avenue, Flushing, Queens, New York
- Square Footage: 60,000 sf
- Price per Square Foot: $285
The seller of the property was Chick-Teri Corp, while the buyer was Prestige Property New York LLC’s Peng Lim.
Players
Flushing Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93