TBD Acquires Retail Property In Queens For $7.5M
34-39 31st St, Long Island City, NY 11106, USA
Building Size
16,000 SF
Asset Type
Retail
Closing
Nov 4, 2017
AI
Located at 34-39 31st Street in Queens, New York, this retail property has recently been sold in a closed transaction. The property spans 16,000 square feet and was sold at a price of $7,500,000, resulting in a price per square foot of $468.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,500,000
- Square Footage: 16,000
- Price Per Square Foot: $468
- Address: 34-39 31st Street, Queens, New York
- Market: Queens
The seller of this property was Javse Realty Corp. The buyer has not been disclosed thus far. The deal was facilitated by Rosewood's Jack Zalta (@jzalta) and Jacob Setton (@jsett), who represent the respective parties in this transaction.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93