Brent Iloulian Acquires Office Building In Sunnyside, Queens For $5.35M
SOLD
$5,350,000
New York
See Similar DealsOffice5,705 SF
Sold 05/21/2021
SOLD
Brent Iloulian Acquires Office Building In Sunnyside, Queens For $5.35M
36-52 35th Street, Long Island City, NY, USA
See Similar DealsOffice5,705 SF
Sold 05/21/2021
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$937
Total Square Footage:5,705 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$285,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,007.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,361.73
Annual Debt Service$304,340.75
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