Brian Pun Purchases Office Building In Long Island City For $10.2M
224 51st Ave, Queens, NY, 11101
$10,200,000
$714/SF
Building Size
14,269 SF
Asset Type
Office
Closing
Jun 30, 2016
About this deal
AI
The office property located at 224 51st Ave, Long Island City, NY, 11101 was sold on 06/30/2016. The property, owned by Gold Seal Limousine, was purchased by Brian Pun for $10,200,000.00. The office spans a total of 14,269 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $10,200,000.00
- Address: 224 51st Ave, Queens, NY, 11101
- Market: Long Island City
- Seller: Gold Seal Limousine
- Buyer: Brian Pun
The seller's representative in this transaction was Wook Chung, representing Gold Seal Limousine on the deal.
On the Map
$10,200,000
$714/SF
Office
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Players
Long Island City 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
1.56%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93