Ahmed S Qasemi Acquires Retail Property In Richmond Hill, Queens For $5.5M
110-19 Atlantic Avenue, Richmond Hill, Queens County, NY, USA
$5,533,995
$356/SF
Building Size
15,517 SF
Asset Type
Retail
Closing
May 12, 2021
AI
A retail property located at 110-19 Atlantic Avenue in Richmond Hill, Queens has been sold. The property is zoned for R6A, R3-1, and C2-3 use. The transaction took place on May 13, 2021.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $5,533,995
- Building Square Footage: 43,104
- Price per Square Foot: $128
- Total Square Footage: 15,517
- Price per Square Foot: $356
- FAR: 1.08
- Tax Class: 4
- Lot Size: 14,368
- Permits: Alteration type 2 (09/29/2017)
- Lot Dimensions: 119 ft x 124.17 ft
The buyer of the property is Ahmed S Qasemi, while the seller is Kenneth P Silverman. The deal was facilitated by their respective representatives.
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
2.87%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93