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
About this deal
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:
- Property Type: Retail
- Transaction Amount: $4,150,000
- Seller: Jeff Sutton
- Buyer: Juhyung Kang
- Broker Representatives: Yisroel Pershin, Eli Shilian
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.
On the Map
$4,150,000
$922/SF
Retail
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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
3.82%
Cash-on-Cash
-1.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93