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Margarita Brennan Purchases Office Building In Rockaway Beach From Oscar Ed Patisso For $3.5M
SOLD
$3,500,000
New York
See Similar DealsOffice12,300 SF
Sold 11/25/2024
SOLD
Margarita Brennan Purchases Office Building In Rockaway Beach From Oscar Ed Patisso For $3.5M
88-08 Rockaway Beach Boulevard
See Similar DealsOffice12,300 SF
Sold 11/25/2024
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$284
Total Square Footage:12,300 SF
Transaction Type:Sale
The office building located at 88-08 Rockaway Beach Boulevard in Rockaway Beach, Queens, has been sold for a total price of $3,500,000. The asset encompasses approximately 12,300 square feet, resulting in a price per square foot of $285.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $3,500,000
- Address: 88-08 Rockaway Beach Boulevard
- Market: Rockaway Beach, Queens
- Buyer: Margarita Brennan
- Seller: Oscar Ed Patisso
- Square Footage: 12,300
- Price per Square Foot: $285
Margarita Brennan, through Bh 8808 LLC, successfully completed the acquisition of the office building from seller Oscar Ed Patisso, marking a significant transaction in the Rockaway Beach area.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$186,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
Annual Debt Service$199,101.43
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