Bayrock Capital Acquires Office In Douglaston For $4.8M With Brokers Kevin Louie & Stephen R. Preuss
24302 Northern Boulevard, Little Neck, NY 11362
$4,800,000
$400/SF
Building Size
12,000 SF
Asset Type
Office
Closing
Dec 13, 2020
About this deal
AI
The office property located at 243-02 Northern Blvd in Douglaston was recently sold in a transaction on December 14, 2020. The property encompasses approximately 12,000 square feet and is zoned as R1-2. The sale price for this transaction was $4,800,000, resulting in a price per square foot of $400.
Summary of transation details
- Property Type: Office
- Transaction Amount: $4,800,000
- Address: 243-02 Northern Blvd, Douglaston
- Market: Douglaston
- Square Footage: 12,000
- Zoning: R1-2
The buyer in this transaction was Bayrock Capital, while the seller was Jewish Board - Family & Children’s Services. The brokers involved in the deal were Stephen R. Preuss and Kevin Louie, representing Cushwake.
Players
New York 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
3.30%
Cash-on-Cash
-0.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93