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30-76 Steinway Street

Ripco Real Estate Brokers Facilitate $2.09M Sale Of Retail Property In Astoria, Queens
SOLDRetail

Ripco Real Estate Brokers Facilitate $2.09M Sale Of Retail Property In Astoria, Queens

30-76 Steinway Street

$2,090,000

$464/SF

Building Size

4,500 SF

Asset Type

Retail

Closing

Feb 8, 2024

AI

Located at 30-76 Steinway Street in Astoria, Queens, this retail property was recently sold in a closed transaction. The property spans approximately 4,500 square feet and was sold for a price of $2,090,000, resulting in a price per square foot of $464.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $2,090,000
  • Square Feet: 4,500
  • Address: 30-76 Steinway Street, Astoria, Queens
  • Market: Astoria, Queens

The buyer of the property is Kenny Tung, while the seller is Abe Sutton. The deal was facilitated by Ripco Real Estate, with Stephen R. Preuss Sr., Andreas Efthymiou, Kevin Schmitz, Kevin Louie, and Jon Winzelberg serving as the brokers representing the buyer and seller.

Players

Kevin Louie

Ripco

Broker

$1B

vol

126 deals

Broker

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

7.59%

Cash-on-Cash

-2.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93