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RJ Capital Holdings Acquires Retail Building In Briarwood, Queens For $7.5M

Property Image
SOLD
$7,500,000
RA
NA

New York

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Retail8,890 SF
Sold 05/24/2023
the dealplayerscompscontact
Property Image
SOLD

RJ Capital Holdings Acquires Retail Building In Briarwood, Queens For $7.5M

138-13 Queens Blvd Queens, NY 11435, USA

See Similar Deals
Retail8,890 SF
Sold 05/24/2023
RA
NA
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$843
Total Square Footage:8,890 SF
Transaction Type:Sale

RJ Capital Holdings has acquired a retail building located at 138-13 and 138-21 Queens Boulevard in Briarwood, Queens. The property was purchased from A&R Properties Group for a total sale price of $7.5 million. The deal, closed on May 24, 2023, includes properties with a total of 8,890 square feet of built space and 26,550 square feet of additional air rights. This allows for a potential total buildable area of 35,400 square feet.

Summary of transaction details

  • Property Type: Retail
  • Sale Price: $7,500,000
  • Building Square Footage: 8,890 SF
  • Price per Square Foot: $844

The buyer in this transaction is RJ Capital Holdings, represented by Rudolf Abramov. On the other side of the deal, the seller is A&R Properties Group, represented by Noorollah Asherian, Shokrollah Rehanian, and Farajollah Benji.

Players

RA
RJ Capital Holdings
Rudolf Abramov
5 deals$26.4M volume
BUYER
NA
Noorollah Asherian
3 deals$19.4M volume
SELLER
AG
A & R Properties Group
SELLER

Details

SOLD
IMAGE: 05/24/2023 ADDRESS: 138-13 & 138-21 Queens Boulevard MARKET: Briarwood, Queens ASSET TYPE: Retail BUYER: RJ Capital Holdings (@RJCapitalHoldings) - Rudolf Abramov SELLER: A&R Properties Group (@ARPGNY) - Noorollah Asherian, Shokrollah Rehanian & Farajollah Benji SALE PRICE: $7,500,000 BSF: 35,400 ~ PPBSF: $212 SF: 8,890 ~ PPSF: $844 NOTE: RJ Capital Holdings has acquired a retail building located at 138-13 and 138-21 Queens Boulevard in Briarwood, Queens, from A&R Properties Group for $7.5 million. The deal, closed on May 24, 2023, includes properties with a total of 8,890 square feet of built space and 26,550 square feet of additional air rights, allowing for a potential total buildable area of 35,400 square feet.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$400,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,553.83
Annual Debt Service$426,645.92