Hackman Capital Partners Acquires Office In Long Island City For $5M
34-21 Review Avenue, Queens, New York 11101, United States
$5,000,000
$490/SF
Building Size
10,200 SF
Asset Type
Office
Closing
Sep 20, 2022
AI
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.
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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93