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
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.
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