Thor Equities & United American Land Acquire Flushing Retail Condo For $42M
38-18 Union St, Flushing, NY 11354, USA
$42,000,000
$140/SF
Building Size
300,000 SF
Asset Type
Retail
Closing
Feb 27, 2020
About this deal
AI
Thor Equities and United American Land have acquired a retail condo in Flushing, Queens for $42,000,000. The property, located at 138-35 39th Avenue and 38-18 Union Street, spans 300,000 square feet and was sold by F&T Group, AECOM, and Rockefeller Group. The purchase price amounts to $140 per square foot.
Summary of Transation Details
- Property Type: Retail condo
- Transaction Amount: $42,000,000
- Square Footage: 300,000
- Price Per Square Foot: $140
- Buyer: Thor Equities & United American Land
- Seller: F&T Group, AECOM & Rockefeller Group
This deal was facilitated by Thor Equities and United American Land, representing the buyer's interests in the transaction.
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
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93