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11-19 Northern Boulevard

David & Tony Su Purchase Retail Property At 11-19 Northern Boulevard Great Neck For $3.05M
SOLDRetail

David & Tony Su Purchase Retail Property At 11-19 Northern Boulevard Great Neck For $3.05M

11-19 Northern Boulevard

$3,050,000

$184/SF

Building Size

16,545 SF

Asset Type

Retail

Closing

Aug 16, 2024

AI

The property asset involved in the transaction is a commercial building located at 11-19 Northern Boulevard, Great Neck, NY. This retail asset includes a total square footage of 16,545 and is situated on a 9,600-square-foot lot zoned Business-A. The property sold for $3,050,000, resulting in a price per square foot of $184. It features 196 feet of wraparound frontage along Northern Boulevard, providing excellent visibility.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $3,050,000
  • Buyer: David & Tony Su
  • Seller: Emerald Creek Capital
  • Brokers: Craig Waggner, Daniel Abbondandolo & Joegy Raju - Cushman & Wakefield
  • Square Footage: 16,545
  • Price per Square Foot: $184
  • Lot Size: 9,600 square feet
  • Frontage: 196 feet along Northern Boulevard
  • Market: Great Neck

Cushman & Wakefield’s Long Island Investment Sales Team, comprising Craig Waggner, Daniel Abbondandolo, and Joegy Raju, successfully facilitated this sale. The property’s strategic location near the Nassau County and Queens border allows for easy access to major highways, including the Cross Island Parkway and Long Island Expressway (I-495). It is also conveniently located just a 3-minute drive from the Little Neck Long Island Rail Road station, enhancing its accessibility to New York City.

Players

Craig Waggner

Cushman & Wakefield

Broker

$711M

vol

47 deals

Broker

Great Neck Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.20%

Cash-on-Cash

-1.49%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93