Amir Khan Acquires Retail Building In Jamaica, Queens For $7M
168-02 Hillside Avenue Queens, NY 11432, USA
$7,000,000
$974/SF
Building Size
7,184 SF
Asset Type
Retail
Closing
Apr 24, 2023
About this deal
AI
Amir Khan has purchased a retail building located at 168-02 Hillside Avenue in Jamaica, Queens. The property was sold by the Bokhour family for a total of $7 million. It offers 7,184 square feet of built space and an additional 28,736 square feet of air rights, resulting in a total buildable area of 35,920 square feet. This size makes it a potential development site.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7 million
- Address: 168-02 Hillside Avenue, Queens, NY 11432, USA
The purchase of this retail building showcases Amir Khan's interest in investing in the real estate market. As the buyer, Khan recognized the potential of the property and its potential for further development. This transaction highlights his commitment to expanding his portfolio and capitalizing on opportunities within the market.
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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93