Verv Capital And Chera Realty Group Acquire Medical Office In Astoria For $12.7M
SOLD
$12,745,000
New York
See Similar DealsOffice36,518 SF
Sold
SOLD
Verv Capital And Chera Realty Group Acquire Medical Office In Astoria For $12.7M
31-75 23rd Street, Queens, NY, USA
See Similar DealsOffice36,518 SF
Sold
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$349
Total Square Footage:36518 SF
Transaction Type:Sale
An Astoria medical office located at 31-75 23rd Street has been sold for $12,745,000. The property spans 36,518 square feet, resulting in a price per square foot of $349. The transaction took place on 7th September 2021.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: $12,745,000
- Address: 31-75 23rd Street, Astoria
- Market: Astoria
The buyer of the property is Verv Capital, represented by Edward Cohen from Chera Realty Group. The seller of the property is Emblem Health. William O'Brien and Davon Peters from M.C. O'Brian Inc served as the buyer's representatives, while Brian Givin from Colliers represented the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$679,733.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$45,280.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$60,417.80
Annual Debt Service$725,013.63
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