David Schwartz Acquires Office Building In Briarwood, Queens For $15.9M
138-50 Queens Boulevard, Briarwood, Queens County, NY, USA
$15,920,000
$398/SF
Building Size
40,000 SF
Asset Type
Office
Closing
Dec 10, 2021
About this deal
AI
A 40,000 square foot office property located at 138-50 Queens Boulevard in Briarwood, Queens, was recently sold for $15,920,000. The transaction took place on December 10, 2021, and the buyer was David Schwartz. The seller was USW Union, represented by Stephen R. Preuss Sr. and Kevin Schmitz.
Summary of transaction details:
- Property Type: Office
- Sale Price: $15,920,000
- Square Footage: 40,000
- Price per Square Foot: $398
- Date of Sale: 12/10/2021
- Address: 138-50 Queens Boulevard
- Market: Briarwood, Queens
Stephen R. Preuss Sr. and Kevin Schmitz represented the seller, USW Union, in this transaction.
Players
Jamaica 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
1.00%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93