Alan Cockburn Acquires Retail Property In LIC, Queens For $42.8M
39-04 Northern Boulevard, Queens, NY, USA
$42,841,900
$17,000/SF
Building Size
2,520 SF
Asset Type
Retail
Closing
Nov 15, 2021
About this deal
AI
The retail property located at 39-04 Northern Boulevard in LIC, Queens was sold on November 16, 2021. The property has a total building square footage (BSF) of 194,585 and a price per building square footage (PPBSF) of $220. It spans across 2,520 square feet with a price per square foot (PPSF) of $1,701. The lot size is 38,917 square feet, measuring 202 feet by 130 feet. The property falls under the M1-5 zoning category and has a floor area ratio (FAR) of 0.06. The tax class is 4, and the previous sale of the property took place on November 15, 2018, for $0.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $42,841,900
- Buyer: Alan Cockburn
- Seller: John Iacono
- Address: 39-04 Northern Boulevard, LIC, Queens
- Market: LIC, Queens
Alan Cockburn represented the buyer in this transaction, while John Iacono represented the seller.
Players
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
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93