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
$3,000,000
$53/SF
Building Size
56,000 SF
Asset Type
Retail
Closing
Nov 8, 2018
About this deal
AI
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.
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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93