Marc Taub's Taub Development Acquires Retail Buildings In Woodside, Queens For $8.4M
48-18 Northern Boulevard & 48-18 48th Street
$8,425,000
$17/SF
Building Size
246,993 SF
Asset Type
Retail
Closing
Dec 1, 2023
About this deal
AI
Marc Taub's Taub Development has acquired the leasehold on two retail buildings in Woodside, Queens. The properties, located at 48-18 Northern Boulevard and 48-18 48th Street, were purchased for $8.4 million from Pwr16 48-18 Northern Blvd LLC. The transaction involves a total of 246,993 square feet of retail space, with a price per square foot of $34.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $8,425,000
- Address: 48-18 Northern Boulevard & 48-18 48th Street
- Market: Woodside, Queens
- Buyer: Marc Taub - Taub Development
- Seller: Pwr16 48-18 Northern Blvd LLC
- Square Footage: 246,993
- Price per Square Foot: $34
This deal marks an important acquisition for Marc Taub's Taub Development, as they expand their portfolio in the retail sector. The transaction highlights their interest in investing in properties in the Woodside area, demonstrating their strategic approach to real estate development.
Players
Great Neck 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
1.88%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93