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210-01/25 Horace Harding Ex...

The Malachite Group Acquires Retail Property In Bayside, Queens For $4.5M
SOLDRetail

The Malachite Group Acquires Retail Property In Bayside, Queens For $4.5M

210-01/25 Horace Harding Expressway, Queens, NY 11364

$4,500,000

$314/SF

Building Size

14,320 SF

Asset Type

Retail

Closing

Jan 27, 2022

AI

The retail property located at 210-01/25 Horace Harding Expressway in Bayside, Queens, has been sold. The transaction took place on January 28, 2022. The property, spanning 14,320 square feet, was sold for a price of $4,500,000, resulting in a price per square foot of $314.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $4,500,000
  • Date: January 28, 2022
  • Location: 210-01/25 Horace Harding Expressway, Bayside, Queens
  • Market: Bayside, Queens

The Malachite Group was the buyer in this transaction. The seller's representatives were Thomas Donovan, Tommy Lin, Chris Brodhead, Andy Chen, and Nikola Cosic of B6 Real Estate Advisors. The property was initially listed for $4,500,000, the same price at which it was ultimately sold.

Players

Thomas Donovan

Meridian Capital Group

Broker

$730.7M

vol

51 deals

Broker
TG
The Malachite GroupBuyer

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

3.53%

Cash-on-Cash

-1.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93