Kenneth Lien Acquires Retail Property In Long Island City, Queens For $2.45M
SOLD
$2,450,000
New York
See Similar DealsRetail36,720 SF
Sold 12/10/2019
SOLD
Kenneth Lien Acquires Retail Property In Long Island City, Queens For $2.45M
47-28 11th St, Long Island City, NY 11101, USA
See Similar DealsRetail36,720 SF
Sold 12/10/2019
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$66
Total Square Footage:36,720 SF
Transaction Type:Sale
The retail property located at 47-28 11th Street in Long Island City, Queens, has been sold for a price of $2,450,000. The asset spans a total area of 3,672 square feet, resulting in a price per square foot of $667.21.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,450,000
- Square Footage: 3,672
- Price per Square Foot: $667.21
- Address: 47-28 11th Street, Long Island City, Queens
The buyer of the property is Kenneth Lien, while the seller is Alex Kostovetsky. The transaction was facilitated by the brokers Scott Plasky and Billy Stephan.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$130,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,704.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,614.25
Annual Debt Service$139,371.00
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