Manouchehr Malekan Acquires Retail Property From David & Dafna Palatnik For $2.1M
30 16 Steinway Street
$2,100,000
$579/SF
Building Size
3,625 SF
Asset Type
Retail
Closing
Jun 3, 2025
About this deal
AI
The retail asset located at 30-16 Steinway Street in Astoria has been sold for $2,100,000. The property encompasses a total of 3,625 square feet, translating to a price per square foot of $579.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,100,000
- Address: 30-16 Steinway Street
- Market: Astoria
- Square Footage: 3,625
- Price Per Square Foot: $579
- Buyer: Manouchehr Malekan
- Seller: David & Dafna Palatnik
- Seller's Representative: George Skaliarinis & Mark Gallucci - KSR
The transaction involved Manouchehr Malekan as the buyer, acquiring the asset from sellers David and Dafna Palatnik, with representation provided by brokers George Skaliarinis and Mark Gallucci from KSR.
On the Map
$2,100,000
$579/SF
Retail
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Players
Astoria 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
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93