Mahmoud Widdi Acquires Retail Property In Jamaica, Queens For $4.5M
SOLD
$4,500,000
New York
See Similar DealsRetail8,885 SF
Sold 03/22/2022
SOLD
Mahmoud Widdi Acquires Retail Property In Jamaica, Queens For $4.5M
109 Guy R. Brewer Boulevard, Queens, New York 11434, United States
See Similar DealsRetail8,885 SF
Sold 03/22/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$506
Total Square Footage:8,885 SF
Transaction Type:Sale
The retail property located at 109-117 Guy R. Brewer Blvd. in Jamaica, Queens has been sold for $4,500,000. The property spans 8,885 square feet, resulting in a price per square foot of $506. The transaction took place on March 22, 2022, facilitated by Scott Plasky and Billy Stephan from Marcus & Millichap.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,500,000
- Address: 109-117 Guy R. Brewer Blvd.
- Market: Jamaica, Queens
- Square Footage: 8,885
Mahmoud Widdi acquired the property from Itzhaki Properties, represented by Erez Itzhaki. The sale was brokered by Scott Plasky and Billy Stephan from Marcus & Millichap. Additional details regarding the deal are not available.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$240,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55
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