Ron Mandel Acquires Retail Property In Laurelton, Queens For $2.3M
222-16 Merrick Blvd, Jamaica, NY 11413, USA
$2,300,000
$418/SF
Building Size
5,500 SF
Asset Type
Retail
Closing
Jul 2, 2019
AI
An retail property located at 222-16 Merrick Boulevard in Laurelton, Queens was recently sold at a price of $2,300,000. The property spans a total area of 5,500 square feet, with a price per square foot of $418.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,300,000
- Address: 222-16 Merrick Boulevard, Laurelton, Queens
- Market: Laurelton, Queens
The seller of the property was Yehuda Cohen, while the buyer in the transaction was Ron Mandel. The deal was facilitated by brokers Stephen R. Preuss and Kevin Schmitz.
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
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93