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222-16 Merrick Blvd, Jamaic...

Ron Mandel Acquires Retail Property In Laurelton, Queens For $2.3M
SOLDRetail

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

Stephen R. Preuss Sr.

Ripco

Broker

$2B

vol

259 deals

Broker

Yehuda Cohen

Seller

$43.6M

vol

11 deals

Seller

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