Ron Mandel Acquires Retail Property In Laurelton, Queens For $2.3M
SOLD
$2,300,000
New York
See Similar DealsRetail5,500 SF
Sold 07/03/2019
SOLD
Ron Mandel Acquires Retail Property In Laurelton, Queens For $2.3M
222-16 Merrick Blvd, Jamaica, NY 11413, USA
See Similar DealsRetail5,500 SF
Sold 07/03/2019
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$418
Total Square Footage:5,500 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$122,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,171.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,903.17
Annual Debt Service$130,838.08
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