facebook
Traded Co logo
Submit

Jay Lau & Leon Chen Sell Office Asset In Long Island City For $4.75M With Ripco Brokers

Property Image
SOLD
$4,750,000
Eric Delafraz
Kevin Louie
Andreas Efthymiou
+ 2

New York

See Similar Deals
Office25,041 SF
Sold 08/28/2025
the dealplayerscompscontact
Property Image
SOLD

Jay Lau & Leon Chen Sell Office Asset In Long Island City For $4.75M With Ripco Brokers

37 31 10th Street

See Similar Deals
Office25,041 SF
Sold 08/28/2025
Eric Delafraz
Kevin Louie
Andreas Efthymiou
+ 2
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$189
Total Square Footage:25,041 SF
Transaction Type:Sale

This office asset, situated at 37-31 10th Street in Long Island City, has recently been sold for $4,750,000. The property spans a total area of 25,041 square feet, which results in a price per square foot of $189.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $4,750,000
  • Address: 37-31 10th Street
  • Market: Long Island City
  • Square Footage: 25,041
  • Price per Square Foot: $189
  • Seller: Jay Lau & Leon Chen
  • Broker Representatives: Stephen R. Preuss Sr., Kevin Louie, Andreas Efthymiou & Eric Delafraz - Ripco

The transaction was facilitated by the brokerage firm Ripco, represented by Stephen R. Preuss Sr., Kevin Louie, Andreas Efthymiou, and Eric Delafraz, highlighting the expertise of these individuals in managing property deals in the region.

Players

Kevin Louie
Ripco
Kevin Louie
125 deals$1B volume(718) 663-2642
BROKER
Andreas Efthymiou
Ripco
Andreas Efthymiou
128 deals$1.1B volume
BROKER
Stephen R. Preuss Sr.
Ripco
Stephen R. Preuss Sr.
258 deals$2B volume(718) 663-2639
BROKER
Eric Delafraz
Bridge Advisory Group
Eric Delafraz
20 deals$51.2M volume(516) 477-5951
BROKER
JL
Jay Lau
5 deals$46.4M volume
SELLER

Details

SOLD
IMAGE: Stephen R. Preuss Sr., Kevin Louie, Andreas Efthymiou & Eric Delafraz DATE: 8/28/2025 ADDRESS: 37-31 10th Street MARKET: Long Island City ASSET TYPE: Office SELLER: Jay Lau & Leon Chen BROKERS: Stephen R. Preuss Sr. (@RipcoInvestmentSales), Kevin Louie (@Kevin.Louie_Investment_Sales), Andreas Efthymiou (@Andreas.E_Investment_Sales) & Eric Delafraz (@EDCommercialre) - Ripco (@RipcoRealEstate) SALE PRICE: $4,750,000 SF: 25,041 ~ PPSF: $189

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$253,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$16,875.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,517.42
Annual Debt Service$270,209.08