Malachite Services LLC Acquires One-Story Retail Property In Queens For $2.95M
30-70 Steinway St, Long Island City, NY 11103, USA
$2,950,000
$874/SF
Building Size
3,375 SF
Asset Type
Retail
Closing
Dec 11, 2017
About this deal
AI
A one-story retail property located at 30-70 Steinway Street, Astoria, in the market of Queens, New York, has been sold for $2,950,000. The property spans 3,375 square feet and has a price per square foot of $874. The transaction involved Schwab Realty LLC as the seller and Malachite Services LLC as the buyer.
Summary of transaction details
- Property Type: One-Story Retail
- Transaction Amount: $2,950,000
- Address: 30-70 Steinway Street, Astoria, New York
- Market: Queens
- Buildable SF: 3,375 sf
- Price per Square Foot: $874/SF
The deal was facilitated by Stephen R. Preuss and Thomas A. Donovan of Cushman & Wakefield, who represented the seller, Schwab Realty LLC.
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
5.38%
Cash-on-Cash
-1.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93