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31-74 Steinway St, Long Isl...

Juhyung Kang Acquires Retail Property In Astoria From Jeff Sutton
SOLDRetail

Juhyung Kang Acquires Retail Property In Astoria From Jeff Sutton

31-74 Steinway St, Long Island City, NY 11103, USA

$4,150,000

$922/SF

Building Size

4,500 SF

Asset Type

Retail

Closing

Sep 25, 2019

AI

The property asset involved is a retail space located at 31-73 Steinway Street in the Astoria market. The asking price was set at $4,500,000, while the sale price concluded at $4,150,000. The property encompasses a total area of 4,500 square feet, resulting in a price per square foot of $922.

Summary of transaction details:

Notable individuals in the transaction include Jeff Sutton, who served as the seller, and Juhyung Kang, representing the buyer. The deal was brokered by Yisroel Pershin and Eli Shilian, who facilitated the transaction involving the retail property.

Players

Eli Shilian

Broker

$87.3M

vol

6 deals

Broker
Jeff Sutton

Jeff Sutton

Seller

$5.5B

vol

56 deals

Seller

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

3.82%

Cash-on-Cash

-1.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93