KSR Capital Acquires Retail Property In Astoria For $3.975M With Daniel Rahmani - Capital Property Partners
SOLD
$3,975,000
+ 1
New York
See Similar DealsRetail6,456 SF
Sold 10/22/2021
SOLD
KSR Capital Acquires Retail Property In Astoria For $3.975M With Daniel Rahmani - Capital Property Partners
22-56 31st St, Ditmars Steinway, Queens, NY, USA
See Similar DealsRetail6,456 SF
Sold 10/22/2021
+ 1
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$615
Total Square Footage:6,456 SF
Transaction Type:Sale
Located in Astoria's market, the retail property at 22-56 31st St. was recently sold in a closed transaction. The property sits on a parcel with a zoning classification of R5B and C4-2A, making it suitable for various purposes.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,975,000
- Address: 22-56 31st St.
- Market: Astoria
- Zoning: R5B, C4-2A
The buyer of the property was KSR Capital, represented by Morris Sabbagh, Abraham Kassin, and Jack Zalta. On the other hand, the seller was 22-56 Realty Corp., with Irene Rallis as the owner.
Facilitating the transaction was Daniel Rahmani from Capital Property Partners, who acted as the broker in this deal.
The property boasts a building square footage (BSF) of 22,263, translating to a price per BSF of $178. Additionally, it offers a total square footage (SF) of 6,456, equating to a price per SF of $615.
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$211,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,122.34
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