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Matilda Kiss Acquires Retail Strip In Laurelton, Queens For $9.65M

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SOLD
$9,650,000

New York

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Retail18,408 SF
Sold 12/21/2018
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Property Image
SOLD

Matilda Kiss Acquires Retail Strip In Laurelton, Queens For $9.65M

227-01 Merrick Blvd, Laurelton, Queens County, NY, USA

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Retail18,408 SF
Sold 12/21/2018
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$524
Total Square Footage:18,408 SF
Transaction Type:Sale

The retail strip located at 227-01-227-23 Merrick Blvd in Laurelton, Queens has been sold for $9,650,000. The property spans a total of 18,408 square feet, resulting in a price per square foot of $524. The transaction took place on December 21, 2018 and involved the seller RJ Capital Holdings, represented by Rudy Abramov, and the buyer Matilda Kiss of M. Kiss Management. The buyer was represented by Nir Mor and Daniel Rahmani of Capital Property Partners, while the seller was represented by Michelle Abramov of Asset CRG. The property boasts an entire blockfront with 200 feet of frontage on Merrick Blvd.

Summary of transation details

  • Property Type: Retail Strip
  • Transaction Amount: $9,650,000
  • Address: 227-01-227-23 Merrick Blvd, Laurelton, Queens
  • Square Footage: 18,408
  • Price per Square Foot: $524
  • Seller: RJ Capital Holdings - Rudy Abramov
  • Buyer: Matilda Kiss - M. Kiss Management
  • Buyer's Brokers: Nir Mor & Daniel Rahmani - Capital Property Partners
  • Seller's Broker: Michelle Abramov - Asset CRG
  • Note: Entire Blockfront with 200 Feet of frontage on Merrick Blvd

Players

Daniel Rahmani
12 deals$184.9M volume
BROKER

Michelle Abramov
Ripco
26 deals$64.9M volume(718) 663-2652
BROKER

Nir Mor
Hanover Capital
20 deals$160.9M volume
BROKER

RJ Capital Holdings
SELLER

Details

SOLD
IMAGE: Nir Mor, Michelle Abramov , & Daniel Rahmani DATE: 12/21/2018 ADDRESS: 227-01-227-23 Merrick Blvd MARKET: Laurelton, Queens ASSET TYPE: Retail Strip SELLER: RJ Capital Holdings - Rudy Abramov BUYER: Matilda Kiss - M. Kiss Management BUYER’S BROKERS: Nir Mor & Daniel Rahmani - Capital Property Partners SELLER’S BROKER: Michelle Abramov @assetcrg PRICE: $9,650,000 SF: 18,408 ~ PPSF: $524 CAP RATE: 4.9% NOTES: Entire Blockfront with 200 Feet of frontage on Merrick Blvd

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$514,666.68

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$34,284.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,745.92
Annual Debt Service$548,951.08