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42-02 NB Owner LLC Acquires Retail Property From Mark Lundy In Long Island City For $101.1M
SOLD
$101,125,000
New York
See Similar DealsRetail74,637 SF
Sold
SOLD
42-02 NB Owner LLC Acquires Retail Property From Mark Lundy In Long Island City For $101.1M
42-02 Northern Boulevard
See Similar DealsRetail74,637 SF
Sold
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1354
Total Square Footage:74637 SF
Transaction Type:Sale
A retail property located at 42-02 Northern Boulevard in Long Island City, Queens, was sold for $101,125,000. The asset spans a total of 74,637 square feet, resulting in a price per square foot of $1,355.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $101,125,000
- Address: 42-02 Northern Boulevard
- Market: Long Island City, Queens
- Total Square Footage: 74,637
- Price per Square Foot: $1,355
- Buyer: 42-02 NB Owner LLC
- Seller: Mark Lundy
This transaction involved 42-02 NB Owner LLC acquiring the property from Mark Lundy, highlighting the transition of ownership in this retail segment of the market.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,393,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$359,275.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$479,384.09
Annual Debt Service$5,752,609.10
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