Asef Bari Acquires Office Building From Joseph Bruno Trust In Jackson Heights For $30M
74 09 37th Avenue
$30,000,000
$322/SF
Building Size
92,914 SF
Asset Type
Office
Closing
Jan 24, 2025
AI
The property asset involved in this transaction is an office located at 74-09 37th Avenue in the Bruson Building within the Jackson Heights market. The sale price of the property was $30,000,000. It features a total square footage of 92,914, which translates to a price per square foot of $322.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $30,000,000
- Address: 74-09 37th Avenue - Bruson Building
- Market: Jackson Heights
- Square Footage: 92,914
- Price Per Square Foot: $322
- Buyer: Asef Bari
- Seller: Joseph Bruno Trust
- Brokers: Dylan Walsh, Jonathan Squires, Nick Kolbus, Kieran Baker, Josh Neustadter, and Austin Weiner - Cushman & Wakefield
The transaction involved several key individuals representing both the buyer and the seller. Asef Bari, the buyer, was represented by brokers from Cushman & Wakefield, including Dylan Walsh, Jonathan Squires, Nick Kolbus, Kieran Baker, Josh Neustadter, and Austin Weiner. The seller, Joseph Bruno Trust, was also represented by these brokers in the transaction.
Players
Jackson Heights Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93