Alex Kaskel Acquires Vacant Single-Story Retail In Astoria, Queens For $2.03M
31-79 Steinway St, Astoria, Queens County, NY, USA
$2,035,000
$904/SF
Building Size
2,250 SF
Asset Type
Retail
Closing
Mar 7, 2019
AI
31-79 Steinway St in Astoria, Queens has been sold in a recent transaction. The property is a vacant single-story retail space with a total area of 2,250 square feet. The sale price for this property was $2,035,000, resulting in a price per square foot of $904. The property is zoned as C4-3.
Summary of transaction details
- Property Type: Vacant Single-Story Retail
- Transaction Amount: $2,035,000
- Address: 31-79 Steinway St, Astoria, Queens
- Market: Astoria, Queens
- Seller: Allen Gerber
- Buyer: Alex Kaskel - ABS Properties & First Pioneer Properties
- Brokers: Andreas Efthymiou & Stephen R. Preuss @TeamPreuss
- Zoning: C4-3
The buyer in this transaction is Alex Kaskel, representing ABS Properties & First Pioneer Properties. The seller, Allen Gerber, successfully closed the deal with the help of brokers Andreas Efthymiou and Stephen R. Preuss from Team Preuss.
Players
New York 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
7.80%
Cash-on-Cash
-2.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93