Lian Wu Shao & William Shao Acquires Retail Property In Little Neck, Queens For $30M
249-26 Northern Boulevard, Queens, New York 11362, United States
$30,000,000
$824/SF
Building Size
36,400 SF
Asset Type
Retail
Closing
Dec 14, 2021
AI
A retail property located at 249-26 Northern Boulevard in Little Neck, Queens, was recently sold in a closed transaction. The property spans a total square footage of 36,400 and was sold for a price of $30,000,000. This translates to a price per square foot of $824.
Summary of transaction details
- Property Type: Retail
- Sale Price: $30,000,000
- Square Footage: 36,400
- Price per Square Foot: $824
- Address: 249-26 Northern Boulevard, Little Neck, Queens
- Market: Little Neck, Queens
The buyer of the property is Lian Wu Shao and William Shao. The transaction was facilitated by Richard Dietrich from Site Quest agency acting as the broker representing the buyer.
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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93