Century Development Group Acquires Commercial Property In Long Island For $26M
11-40 45th Rd, Long Island City, NY 11101, USA
$26,000,000
$209/SF
Building Size
124,200 SF
Asset Type
Other
Closing
Jun 23, 2019
AI
The commercial property located at 11-40 45th Road in Long Island has been sold for a price of $26,000,000. The property has a building size of 124,200 square feet, with a price per square foot of $209. The buyer of the property is Century Development Group, represented by George Xu, while the seller is Radha Soami Society.
Summary of Transaction Details
- Property Type: Commercial
- Transaction Amount: $26,000,000
- Building Size: 124,200 square feet
- Price per Square Foot: $209
- Buyer: Century Development Group - George Xu
- Seller: Radha Soami Society
The transaction was facilitated by George Xu of Century Development Group, who represented the buyer in the deal. This successful transaction highlights the growing commercial real estate market in Long Island.
New York Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93