Eshagh Malekan Acquires Retail Property In Jamaica For $2.95M From Seller Choe Hyun Won & Lender TFCU
10846 Merrick Boulevard, Jamaica, NY, USA
$2,950,000
$268/SF
Building Size
11,000 SF
Asset Type
Retail
Closing
Feb 25, 2019
About this deal
AI
A retail property located at 103-19 & 103-23 Merrick Blvd in Jamaica has been sold for a price of $2,950,000. The property spans 11,000 square feet, resulting in a price per square foot of $268. The transaction took place on February 26, 2019, with a capitalization rate of 5.6%. The seller of the property was Choe Hyun Won, while the buyer/borrower was Eshagh Malekan.
Summary of transaction details
- Property Type: Retail
- Sale Price: $2,950,000
- Square Footage: 11,000
- Price per Square Foot: $268
- Capitalization Rate: 5.6%
- Seller: Choe Hyun Won
- Buyer/Borrower: Eshagh Malekan
The transaction was facilitated by brokers Josh Lipton and Andrew Levine from Invictus Property Advisors. The loan for the property, in the amount of $1,725,000, was arranged by loan broker Adrian Edery from Paradigm Commercial Real Estate. The loan was provided by tfcu''>TFCU.
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
5.38%
Cash-on-Cash
-1.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93