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36-52 35th Street, Long Isl...

Brent Iloulian Acquires Office Building In Sunnyside, Queens For $5.35M
SOLDOffice

Brent Iloulian Acquires Office Building In Sunnyside, Queens For $5.35M

36-52 35th Street, Long Island City, NY, USA

$5,350,000

$937/SF

Building Size

5,705 SF

Asset Type

Office

Closing

May 20, 2021

AI

The office property located at 52-29 35th Street in Sunnyside, Queens has been sold for a price of $5,350,000. The transaction took place on May 21, 2021. The property spans across an area of 5,705 square feet, resulting in a price per square foot of $937. The office is situated in an area zoned as M1-1.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $5,350,000
  • Market: Sunnyside, Queens
  • Zoning: M1-1

The buyer of the property is Brent Iloulian, while Joseph Lazo acted as the seller. The property has a floor area ratio (FAR) of 0.43. The lot size is 2,500 square feet with dimensions of 25 ft x 100.83 ft. Additionally, permits for alteration type 1 were obtained on October 31, 1997.

Players

Brent Iloulian

Hackman Capital Partners

Buyer

$21.1M

vol

4 deals

Buyer

Joseph Lazo

Seller

$16.1M

vol

3 deals

Seller

Astoria Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.97%

Cash-on-Cash

-0.85%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93