George Voutsinas Acquires Retail Condo In Kew Gardens, Queens For $8.55M
24 Metropolitan Avenue
$8,550,000
$1,298/SF
Building Size
6,584 SF
Asset Type
Retail
Closing
Oct 19, 2022
AI
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
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.86%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93