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139-29 Hillside Avenue

Brody Family Acquires Retail Property In Queens For $13.25M Via Douglas Elliman Commercial
SOLDRetail

Brody Family Acquires Retail Property In Queens For $13.25M Via Douglas Elliman Commercial

139-29 Hillside Avenue

$13,250,000

$1,060/SF

Building Size

12,500 SF

Asset Type

Retail

Closing

Apr 27, 2023

AI

A retail property located at 139-29 Hillside Avenue in Queens has been sold in a recent transaction. The property spans 12,500 square feet and was sold for a total of $13,250,000, resulting in a price per square foot of $1,060.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $13,250,000
  • Address: 139-29 Hillside Avenue, Queens
  • Market: Queens
  • Buyer: Brody Family
  • Broker: Michael Gronenthal & John Abbate - Douglas Elliman Commercial
  • Square Footage: 12,500
  • Price Per Square Foot: $1,060

The transaction was facilitated by brokers Michael Gronenthal and John Abbate from Douglas Elliman Commercial, who represented the buyer, Brody Family. They played a crucial role in negotiating the deal and ensuring a successful transaction for all parties involved.

Players

Michael Gronenthal

Douglas Elliman

Broker

$106.7M

vol

38 deals

Broker

Market Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.20%

Cash-on-Cash

-0.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93