Ken Weiner Acquires Retail Property In Bellerose, Queens For $11.5M
249-24 Jericho Turnpike, Bellerose, NY 11001
$11,500,000
$589/SF
Building Size
19,500 SF
Asset Type
Retail
Closing
May 25, 2023
About this deal
AI
The property involved in this transaction is a retail asset located at 249-24 Jericho Turnpike in Bellerose, Queens. The property spans a total area of 19,500 square feet and was sold for a price of $11,500,000, resulting in a price per square foot of $590. The sale took place on 05/25/2023.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $11,500,000
- Address: 249-24 Jericho Turnpike, Bellerose, Queens
- Market: Bellerose, Queens
- Buyer: Ken Weiner
- Seller: Roger Green
- Broker: Michael Steinberg - Hedgestone Business Advisors
This transaction marks the 10th car wash deal for Hedgestone Business Advisors this year. If you are interested in buying or selling a business, please reach out to Mike Steinberg from Hedgestone Business Advisors for assistance.
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
1.38%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93