Damien Smith Acquires Garage In LIC, Queens For $7M
SOLD
$7,000,000
New York
See Similar DealsOther14,794 SF
Sold 03/16/2021
SOLD
Damien Smith Acquires Garage In LIC, Queens For $7M
11-06 Broadway, LIC, Queens, Queens County, NY, USA
See Similar DealsOther14,794 SF
Sold 03/16/2021
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$473
Total Square Footage:14,794 SF
Transaction Type:Sale
The property located at 11-06 Broadway in LIC, Queens has been sold in a closed transaction. The asset is classified as garages and falls under the R5 zoning category. The deal was finalized on March 16, 2021.
Summary of Transaction Details:
- Property Type: Garages
- Sale Price: $7,000,000
- Building Square Footage: 28,450
- Price Per Square Foot: $246
- Total Lot Size: 22,760 square feet
- Lot Dimensions: 227.12 ft x 100.48 ft
- Tax Class: 4
- Floor Area Ratio (FAR): 0.65
The buyer of the property is Damien Smith, while the seller is Chryssanthi Ventouratos. The transaction involved a purchase price of $7,000,000, with a building square footage of 28,450. The price per square foot was calculated at $246. The property's total lot size measures 22,760 square feet, with dimensions of 227.12 ft x 100.48 ft.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$373,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,869.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,183.57
Annual Debt Service$398,202.85
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