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:
- Property Type: Office Building
- Transaction Amount: $9,200,000.00
- Address: 17520 Hillside Avenue, Queens, NY
- Market: Jamaica
- Square Footage: 16,791
- Seller: Michael Guttman
- Seller’s Representative: Michael Guttman - Rosewood Realty Group
- Buyer: Unknown
- Buyer’s Representative: Jacob Setton - Rosewood Realty Group
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
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
1.72%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93