George Voutsinas Acquires Retail Condo In Kew Gardens, Queens For $8.55M
SOLD
$8,550,000
New York
See Similar DealsRetail6,584 SF
Sold 10/19/2022
SOLD
George Voutsinas Acquires Retail Condo In Kew Gardens, Queens For $8.55M
24 Metropolitan Avenue
See Similar DealsRetail6,584 SF
Sold 10/19/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,298
Total Square Footage:6,584 SF
Transaction Type:Sale
A retail condo located at 116-24 Metropolitan Ave in Kew Gardens, Queens has been sold for a total price of $8,550,000. The property spans 6,584 square feet, resulting in a price per square foot of $1,299.
Summary of transaction details
- Property Type: Retail Condo
- Transaction Amount: $8,550,000
- Square Footage: 6,584
- Price Per Square Foot: $1,299
- Address: 116-24 Metropolitan Ave, Kew Gardens, Queens
The buyer in this transaction was George Voutsinas. The deal was facilitated by the brokers Tom Donovan from Team Donovan and Chris Brodhead from Team Brodhead, both of whom represent B6 Real Estate Advisors.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$456,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,376.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,531.36
Annual Debt Service$486,376.34
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