facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Office

/

Sale

/

17520 Hillside Avenue, Quee...

175-20 Hillside LLC Sells Property In Jamaica Queens For $9.2M With Jacob Setton As Buyer's Rep
SOLDOffice

175-20 Hillside LLC Sells Property In Jamaica Queens For $9.2M With Jacob Setton As Buyer's Rep

17520 Hillside Avenue, Queens, NY, 1...

$9,200,000

$547/SF

Building Size

16,791 SF

Asset Type

Office

Closing

Nov 20, 2023

AI

The property involved in this transaction is an office building located at 17520 Hillside Avenue in Jamaica, Queens. The building was constructed in 1973 and spans a total square footage of 16,791. The transaction was completed for a price of $9,200,000. The four-story building is fully leased, with tenants that include St. Joseph’s Hospital, Labcorp, and a pharmacy situated on the ground floor. Additionally, the property features 30 outdoor parking spaces.

Summary of transaction details:

Michael Guttman, representing 175-20 Hillside LLC, acted as the seller's representative in this transaction. Jacob Setton represented the undisclosed buyer, facilitating the closure of the deal on behalf of Rosewood Realty Group.

Players

Jacob Setton

Rosewood Realty Group

Broker

$42.2M

vol

4 deals

Broker

Jamaica Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.72%

Cash-on-Cash

-0.49%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93