Sparta Family Sells Retail Property On Jamaica Avenue In Queens Village For $8.5M
44 Jamaica Avenue, Queens, Queens Village, NY, USA
$8,500,000
$2,297/SF
Building Size
3,700 SF
Asset Type
Retail
Closing
Oct 27, 2021
About this deal
AI
The retail property located at 214-32-214-44 Jamaica Avenue in Queens Village, Queens, has been sold for a price of $8,500,000. The property spans 3,700 square feet and has a price per square foot of $2,297. The asset is zoned as C8-1, suitable for retail use.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $8,500,000
- Address: 214-32-214-44 Jamaica Avenue, Queens Village, Queens
- Market: Queens Village, Queens
- Zoning: C8-1
- Square Footage: 3,700
- Price per Square Foot: $2,297
The seller of the property is the Sparta Family, represented by Robert Korren. The deal was facilitated by Billy Stephan and Scott Plasky of the Plasky Retail Group at Marcus & Millichap.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Deal FAQ
Visit William "Billy" Stephan to view all their deals.
Browse New York retail sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93