Kartsonis Family Acquires Retail Property In Forest Hills, Queens For $12.25M
109 Ascan Avenue
$12,250,000
$1,225/SF
Building Size
10,000 SF
Asset Type
Retail
Closing
Nov 3, 2022
About this deal
AI
The retail property located at 109-32 Ascan Avenue in Forest Hills, Queens has been sold for a total price of $12,250,000. The property spans 10,000 square feet, resulting in a price per square foot of $1,225.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $12,250,000
- Address: 109-32 Ascan Avenue, Forest Hills, Queens
- Market: Forest Hills, Queens
- Buyer: Kartsonis Family
- Seller: Koumas Family
- Seller's Representative: Stephen R. Preuss Sr., Kevin Schmitz, Andreas Efthymiou, and Kevin Louie - Ripco Investment Sales
- Buyer's Representative: Ami Efrati - Entrepreneur Properties
The sale was facilitated by the seller's representatives, Stephen R. Preuss Sr., Kevin Schmitz, Andreas Efthymiou, and Kevin Louie from Ripco Investment Sales. Ami Efrati of Entrepreneur Properties represented the buyer in this transaction.
On the Map
$12,250,000
$1,225/SF
Retail
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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
1.29%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93