Hackman Capital Partners Acquires Office In Long Island City For $5M
SOLD
$5,000,000
New York
See Similar DealsOffice10,200 SF
Sold 09/21/2022
SOLD
Hackman Capital Partners Acquires Office In Long Island City For $5M
34-21 Review Avenue, Queens, New York 11101, United States
See Similar DealsOffice10,200 SF
Sold 09/21/2022
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$490
Total Square Footage:10,200 SF
Transaction Type:Sale
The office property located at 34-21 Review Avenue in Long Island City has been sold for a price of $5,000,000. The property spans an area of 10,200 square feet, resulting in a price per square foot of $490. The transaction took place on September 21, 2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $5,000,000
- Address: 34-21 Review Avenue
- Market: Long Island City
- Square Footage: 10,200
- Price per Square Foot: $490
Hackman Capital Partners, represented by Brent Iloulian, was the buyer in this transaction. The seller was the Teamsters affiliate Delivery & Warehouse Employees Union Local 804, represented by Antonino Rosciglione.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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