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38-08 Union Street

Updated Dec 4, 2024

Suzhen Li Buys Office Space From Liyu Lin In Flushing For $2.4M
SOLDOffice

Suzhen Li Buys Office Space From Liyu Lin In Flushing For $2.4M

38-08 Union Street

$2,400,000

$1,134/SF

Building Size

2,116 SF

Asset Type

Office

Closing

May 29, 2024

About this deal

AI

The property asset involved in this transaction is a 2,116 square foot office located at 38-08 Union Street in Flushing, Queens. The sale price for this commercial unit was $2,400,000, equating to a price per square foot of $1,134. The transaction took place on 05/29/2024 and involved the Buyer, Suzhen Li, and the Seller, Liyu Lin. The broker representing the deal was Barbie Li from B Square Realty.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $2,400,000
  • Address: 38-08 Union Street, Flushing, Queens
  • Buyer: Suzhen Li
  • Seller: Liyu Lin
  • Broker: Barbie Li - B Square Realty

Barbie Li of B Square Realty facilitated this successful transaction, showcasing expertise in the current high-interest and competitive office market in Flushing. She was able to quickly find a suitable buyer for the 2100+ SF commercial unit at 38-08 Union Street. Barbie's dedication to helping sellers achieve success in this demanding market is evident in this deal. For all your real estate needs, whether buying, selling, or investing, the Barbie Li Team can make your real estate dreams a reality. Contact them at 646-889-9988 to explore how they can assist you in achieving your real estate goals at a high level.

On the Map

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$2,400,000

$1,134/SF

Office

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Players

Li Li

B Square Realty

Broker

$84.9M

vol

52 deals

Broker
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Flushing Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $1.1K per square foot on a published $2.4M for 2,116 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.61%

Cash-on-Cash

-1.89%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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