Max Kozlowitiz Acquires Single-Story 7-Unit Retail Building In Far Rockaway, Queens For $3M
SOLD
$3,000,000
New York
See Similar DealsRetail56,000 SF
Sold 11/09/2018
SOLD
Max Kozlowitiz Acquires Single-Story 7-Unit Retail Building In Far Rockaway, Queens For $3M
13-26 Beach Channel Dr, Far Rockaway, NY 11691, USA
See Similar DealsRetail56,000 SF
Sold 11/09/2018
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$53
Total Square Footage:56,000 SF
Transaction Type:Sale
A single-story, 7-unit retail building located at 1326-1342 Beach Channel Drive in Far Rockaway, Queens has been sold. The property spans 5,600 square feet and was sold for a price of $3,000,000, resulting in a price per square foot of $536. The sale included a 7% capitalization rate.
Summary of transaction details
- Property Type: Single-Story 7-Unit Retail Building
- Transaction Amount: $3,000,000
- Square Footage: 5,600
- Price per Square Foot: $536
- Capitalization Rate: 7%
- Market: Far Rockaway, Queens
The seller of the property was Yehuda Cohen, while the buyer was Max Kozlowitiz. The transaction was facilitated by broker Stephen R. Preuss from Cushman & Wakefield, representing Team Preuss.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$160,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37
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