The Danco Family Acquires Office Building On Queens-Midtown Expressway In New York City For $4M
SOLD
$4,000,000
+ 1
New York
See Similar DealsOffice15,650 SF
Sold 05/18/2023
SOLD
The Danco Family Acquires Office Building On Queens-Midtown Expressway In New York City For $4M
66-00 Queens Midtown Expy Flushing, NY 11378, USA
See Similar DealsOffice15,650 SF
Sold 05/18/2023
+ 1
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$255
Total Square Footage:15,650 SF
Transaction Type:Sale
The office property located at 66-00 Queens-Midtown Expressway in New York City has been sold in a closed transaction. The property spans 15,650 square feet and was sold for a price of $4,000,000, resulting in a price per square foot of $256. The cap rate for the transaction is 6.4%.
Summary of Transaction Details:
- Property Type: Office
- Sale Price: $4,000,000
- Square Footage: 15,650
- Price Per Square Foot: $256
- Cap Rate: 6.4%
- Address: 66-00 Queens-Midtown Expressway, New York City
The buyer of the property is The Danco Family, while the seller is The Lorraine E. Ripley Revocable Trust. Stephen R. Preuss Sr., Andreas Efthymiou, and Christian Allimonos from Ripco represented the parties involved in the transaction as brokers.
Players
Details
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
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49
Is there something missing? Send suggestions