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31-79 Steinway St, Astoria,...

Alex Kaskel Acquires Vacant Single-Story Retail In Astoria, Queens For $2.03M
SOLDRetail

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

Andreas Efthymiou

Ripco

Broker

$1.2B

vol

134 deals

Broker
AP
ABS PropertiesBuyer

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