$1.87M Steinway Street Retail Sale Sets Record By Buyer Alex Kaskel And Seller Grace Lassik
3175 Steinway St, Astoria, Queens, NY, USA
$1,870,000
$935/SF
Building Size
2,000 SF
Asset Type
Retail
Closing
May 8, 2019
AI
The retail property located at 3175-3177 Steinway St in Astoria, Queens has been sold in a recent transaction. The asset, with a retail zoning of C4-3, offers a total of 2,000 square feet of space. The sale took place on 05/09/2019 and was handled by brokers Andreas Efthymiou and Stephen R. Preuss from TeamPreuss. The transaction represents the highest retail price per square foot sale on Steinway Street in over 2 years.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $1,870,000
- Address: 3175-3177 Steinway St, Astoria, Queens
- Brokers: Andreas Efthymiou & Stephen R. Preuss from TeamPreuss
- Market: Astoria, Queens
- Zoning: C4-3
- SF: 2,000
- PPSF: $935
- CAP: 3.2%
The seller of the property was Grace Lassik, while the buyer was Alex Kaskel of ABS Properties & First Pioneer Properties.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.48%
Cash-on-Cash
-2.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93