Kin Chau Cheng Acquires Church In Downtown Flushing, Queens For $8M
135-25 Northern Boulevard, Queens, New York 11354, United States
$8,000,000
$410/SF
Building Size
19,471 SF
Asset Type
Other
Closing
Dec 9, 2021
AI
A church located at 135-25 Northern Boulevard in Downtown Flushing, Queens, has been sold for $8,000,000. The property has a building square footage (BSF) of 49,774, resulting in a price per BSF of $161. The total square footage (SF) of the church is 19,471, with a price per SF of $411. The lot size is 20,483 square feet, and the property's lot dimensions are 44 feet by 358 feet.
Summary of transaction details
- Property Type: Church
- Transaction Amount: $8,000,000
- Address: 135-25 Northern Boulevard, Downtown Flushing, Queens
- Market: Downtown Flushing, Queens
- Zoning: R6, C2-2
- Buyer: Kin Chau Cheng
- Seller: Ken Huang
- Building Square Footage (BSF): 49,774
- Price Per BSF: $161
- Total Square Footage (SF): 19,471
- Price Per SF: $411
- Far: 1.40
- Tax Class: 4
- Lot Size: 20,483 square feet
- Last Sale Price: $0 (3/31/2021)
- Permits: Alteration type 3 (11/12/2021)
- Lot Dimensions: 44 feet x 358 feet
Kin Chau Cheng has acquired the church property located at 135-25 Northern Boulevard in Downtown Flushing, Queens. The seller of the property is Ken Huang. The transaction took place on 12/10/2021, and the property was previously sold for $0 on 3/31/2021. Permits for alterations were obtained on 11/12/2021.
Players
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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93