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249-26 Northern Boulevard, ...

Lian Wu Shao & William Shao Acquires Retail Property In Little Neck, Queens For $30M
SOLDRetail

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

Richard Dietrich

Broker

$30M

vol

1 deal

Broker
William Shao

William Shao

Buyer

$83.3M

vol

8 deals

Buyer

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