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24 Metropolitan Avenue

George Voutsinas Acquires Retail Condo In Kew Gardens, Queens For $8.55M
SOLDRetail

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

Thomas Donovan

Meridian Capital Group

Broker

$730.7M

vol

51 deals

Broker
B6 Real Estate Advisors
B6 Real Estate AdvisorsBrokerage

George Voutsinas

Buyer

$10.7M

vol

2 deals

Buyer

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