Ripco Real Estate Brokers Facilitate $2.09M Sale Of Retail Property In Astoria, Queens
SOLD
$2,090,000
+ 2
New York
See Similar DealsRetail4,500 SF
Sold 02/08/2024
SOLD
Ripco Real Estate Brokers Facilitate $2.09M Sale Of Retail Property In Astoria, Queens
30-76 Steinway Street
See Similar DealsRetail4,500 SF
Sold 02/08/2024
+ 2
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$464
Total Square Footage:4,500 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$111,466.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,425.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,907.67
Annual Debt Service$118,892.00
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