Mark Koplowitz Acquires Retail Condo On College Point Blvd. In Queens For $2.15M
SOLD
$2,150,000
New York
See Similar DealsRetail12,500 SF
Sold 01/31/2019
SOLD
Mark Koplowitz Acquires Retail Condo On College Point Blvd. In Queens For $2.15M
1508 College Point Boulevard, College Point, NY 11356, USA
See Similar DealsRetail12,500 SF
Sold 01/31/2019
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$172
Total Square Footage:12,500 SF
Transaction Type:Sale
A retail condo located at 15-08 College Point Blvd in College Point, Queens, has been sold for $2.15 million. The property spans across 12,500 square feet with a price per square foot (PPSF) of $172. The sale also achieved a capitalization rate (CAP) of 4.56%.
Summary of transaction details
- Property Type: Retail Condo
- Transaction Amount: $2.15 million
- Square Footage: 12,500 SF
- Price Per Square Foot: $172
- Capitalization Rate: 4.56%
- Seller: Grace Kang
- Buyer: Mark Koplowitz
The deal was facilitated by the brokers, Scott Plasky from @splasky1 and Billy Stephan from @billstephaniv.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$114,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,638.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,192.10
Annual Debt Service$122,305.16
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