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
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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93