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Denis Xhari Of DK Construction Acquires Office Building In Sunnyside Queens For $5.5M
SOLD
$5,500,000
New York
See Similar DealsOffice16,950 SF
Sold 12/20/2024
SOLD
Denis Xhari Of DK Construction Acquires Office Building In Sunnyside Queens For $5.5M
41 24 38th Street
See Similar DealsOffice16,950 SF
Sold 12/20/2024
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$324
Total Square Footage:16,950 SF
Transaction Type:Sale
The asset involved in this transaction is an office property located at 41-24 38th Street in Sunnyside, Queens. The property covers 16,950 square feet and was transacted for a price of $5,500,000, resulting in a price per square foot of $324.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $5,500,000
- Address: 41-24 38th Street
- Market: Sunnyside, Queens
- Square Footage: 16,950
- Price per Square Foot: $324
- Buyer: Denis Xhari - DK Construction
- Seller: Berj Haroutunian & Greg Haroutunian - Vital Transportation
- Closing Date: 12/20/2024
Denis Xhari represented DK Construction in the acquisition of the property through Apeks Group LLC. The sellers, Berj Haroutunian and Greg Haroutunian, represented Vital Transportation in the transaction.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$293,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,540.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,072.81
Annual Debt Service$312,873.67
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