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
Great Neck 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
5.20%
Cash-on-Cash
-1.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93