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Simkho Aranbayev Acquires Retail Property In South Astoria, Queens For $5.8M

Property Image
SOLD
$5,800,000

New York

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Retail13,185 SF
Sold 12/10/2021
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Property Image
SOLD

Simkho Aranbayev Acquires Retail Property In South Astoria, Queens For $5.8M

28 Steinway Street, Queens, New York 11103, United States

See Similar Deals
Retail13,185 SF
Sold 12/10/2021
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$439
Total Square Footage:13,185 SF
Transaction Type:Sale

The property located at 28-33, 30-19, 30-28, and 30-29 Steinway Street in South Astoria, Queens has been sold in a recent transaction. The asset is a retail space with a zoning classification of C4-2A. The property is spread over 3,371 square feet and has a building square footage (BSF) of 28,188. The price for this transaction was $5,800,000, with a price per BSF (PPBSF) of $206. The sale price per square foot (PPSF) comes to $440. The lot dimensions are 37.53 ft x 94.84 ft, and the lot size is 13,185 square feet. The property's floor area ratio (FAR) is 2.12, and it falls under tax class 4. The previous sale of this property had a sale price of $0.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $5,800,000
  • Market: South Astoria, Queens
  • Zoning: C4-2A
  • BSF: 28,188
  • PPBSF: $206
  • SF: 13,185
  • PPSF: $440
  • Lot Size: 3,371
  • Last Sale Price: $0
  • Lot Dimension: 37.53 ft x 94.84 ft
  • FAR: 2.12
  • Tax Class: 4

In this transaction, Simkho Aranbayev acted as the buyer, while Kevin Foley-Littell served as the seller.

Players

11 deals$50.9M volume
BUYER

Details

SOLD
IMAGE: 12/10/2021 ADDRESS: 28-33, 30-19, 30-28 & 30-29 Steinway Street MARKET: South Astoria, Queens ASSET TYPE: Retail ~ ZONING: C4-2A BUYER: Simkho Aranbayev SELLER: Kevin Foley-Littell PRICE: $5,800,000 BSF: 28,188 ~ PPBSF: $206 SF: 13,185 ~ PPSF: $440 FAR: 2.12 TAX CLASS: 4 LOT SIZE: 3,371 LAST SALE PRICE: $0 LOT DIMENSION: 37.53 ft x 94.84 ft

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

$309,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,606.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,494.96
Annual Debt Service$329,939.51