Manouchehr Malekan Acquires Retail Property From David & Dafna Palatnik For $2.1M
SOLD
$2,100,000
New York
See Similar DealsRetail3,625 SF
Sold 06/03/2025
SOLD
Manouchehr Malekan Acquires Retail Property From David & Dafna Palatnik For $2.1M
30 16 Steinway Street
See Similar DealsRetail3,625 SF
Sold 06/03/2025
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$579
Total Square Footage:3,625 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$112,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86
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