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Steven Sasson Acquires Retail Building In Jackson Heights From Crown Acquisitions For $23.4M
SOLD
$23,400,000
New York
See Similar DealsRetail21,856 SF
Sold 04/25/2025
SOLD
Steven Sasson Acquires Retail Building In Jackson Heights From Crown Acquisitions For $23.4M
38 02 Junction Boulevard
See Similar DealsRetail21,856 SF
Sold 04/25/2025
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,070
Total Square Footage:21,856 SF
Transaction Type:Sale
The retail property located at 38-02 Junction Boulevard in Jackson Heights, Queens was sold for $23,400,000. The building encompasses an area of 21,856 square feet, translating to a price per square foot of $1,071.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $23,400,000
- Square Footage: 21,856
- Price Per Square Foot: $1,071
- Buyer: Steven Sasson
- Seller: Richard Chera, Haim Chera & Isaac Chera - Crown Acquisitions
- Date of Transaction: 04/25/2025
- Market: Jackson Heights, Queens
Steven Sasson, the buyer of the property, is the owner of ABC Superstore and acquired the retail building through 3780 Junction Owner LLC from Crown Acquisitions, represented by Richard Chera, Haim Chera, and Isaac Chera.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,248,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$83,135.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$110,927.94
Annual Debt Service$1,331,135.26
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