Private Investor Purchases Astoria Property From JAVSE Realty Corp For $7.5 Million
3439 31st St, Queens, NY, 11106
$7,500,000
$468/SF
Building Size
16,000 SF
Asset Type
Retail
Closing
Nov 20, 2023
About this deal
AI
The property asset involved in this transaction is a retail building located at 34-39 31st St, Queens, NY, 11106, in the Astoria market. The sale was executed for a price of $7,500,000.00 and encompasses a total of 16,000 square feet of retail space. The building was constructed in 1956.
Summary of transaction details:
- Property Type: Retail Building
- Transaction Amount: $7,500,000.00
- Address: 3439 31st St, Queens, NY, 11106
- Market: Astoria
- Buyer: Private Investor
- Seller: JAVSE Realty Corp.
- Buyer's Representative: Jacob Setton - Rosewood Realty Group
- Seller's Representative: Jack Zalta - Kassin Sabbagh Realty
In this transaction, Jacob Setton of Rosewood Realty Group represented the buyer, while Jack Zalta from Kassin Sabbagh Realty served as the broker for the seller, JAVSE Realty Corp. The details of this deal underscore the collaborative efforts of both representatives in facilitating the successful 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
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93