Alan Cockburn Acquires Retail Property In LIC, Queens From John Iacono
40-30 Northern Boulevard, LIC, Queens, NY, USA
$8,565,810
$227/SF
Building Size
37,610 SF
Asset Type
Retail
Closing
Nov 15, 2021
About this deal
AI
Located at 40-30 Northern Boulevard in LIC, Queens, this retail property was recently sold in a closed transaction. The property has a total square footage of 37,610, with a price per square foot of $2278. The building has a gross square footage of 500,020 and a price per gross square foot of $171. The sale price for the property was $85,658,100. It is situated on a lot size of 100,004 with dimensions of 302 ft x 535 ft. The property is zoned as M1-5 and falls under tax class 4. The previous sale price for the property was $13,500,000 in September 6, 2005.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $85,658,100
- Buyer: Alan Cockburn
- Seller: John Iacono
Alan Cockburn represented the buyer in this transaction.
Players
Long Island City Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Deal FAQ
Visit John Iacono to view all their deals.
Browse Long Island City retail sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.85%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93