New York City School Construction Authority Acquires Parking Lot In Jamaica For $24M
SOLD
$24,000,000
New York
See Similar DealsOther
Sold 01/25/2022
SOLD
New York City School Construction Authority Acquires Parking Lot In Jamaica For $24M
16 Hillside Avenue, Queens, New York 11427, United States
See Similar DealsOther
Sold 01/25/2022
Summary
NEW YORK
Asset Type:Other
Transaction Type:Sale
The parking lot located at 164-16 Hillside Avenue in Jamaica has been sold for a price of $24,000,000. The transaction took place on January 25, 2022.
Summary of transaction details
- Property Type: Parking Lot
- Transaction Amount: $24,000,000
- Address: 164-16 Hillside Avenue
- Market: Jamaica
The buyer of the parking lot is the New York City School Construction Authority, while the seller is the Family of Bernard Dowd.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,279,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$85,266.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$113,772.24
Annual Debt Service$1,365,266.93
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