Modell Family Sells Main Street Retail Property In Flushing For $67M
SOLD
$67,000,000
+ 1
New York
See Similar DealsRetail27,000 SF
Sold 10/20/2021
SOLD
Modell Family Sells Main Street Retail Property In Flushing For $67M
39-12 Main Street, Leicester, NY 14481, USA
See Similar DealsRetail27,000 SF
Sold 10/20/2021
+ 1
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$2,481
Total Square Footage:27,000 SF
Transaction Type:Sale
The retail property located at 39-12 & 39-18 Main Street in Flushing has been sold for a price of $67,000,000. The property spans 27,000 square feet, resulting in a price per square foot of $2,481. The sale was completed on 10/20/2021.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $67,000,000
- Address: 39-12 & 39-18 Main Street
- Market: Flushing
The seller of the property was The Modell Family. The transaction was facilitated by broker Charles Chang from Highcap Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,573,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$238,036.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$317,614.18
Annual Debt Service$3,811,370.18
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