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John Tal Acquires Retail Property In Corona, Queens For $3.75M

Property Image
SOLD
$3,750,000

New York

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Retail
Sold 02/08/2021
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Property Image
SOLD

John Tal Acquires Retail Property In Corona, Queens For $3.75M

5405 99th St, Queens, NY, 11368

See Similar Deals
Retail
Sold 02/08/2021
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Summary

NEW YORK
Asset Type:Retail
Transaction Type:Sale

The property involved in the transaction is a multi-unit retail building located at 5405 99th St, Queens, NY, 11368 in Corona. The sale price for this asset was $3,750,000.00, amounting to $500.47 per square foot. The deal was closed with the representation of Swain Weiner, who facilitated the transaction for both the buyer, John Tal, and the seller, A W Property Inc.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $3,750,000.00
  • Address: 5405 99th St, Queens, NY, 11368
  • Market: Corona
  • Buyer: John Tal
  • Seller: A W Property Inc.
  • Buyer's Representative: Swain Weiner

Greiner Maltz Investment Properties announced the successful sale of 54-01 & 54-05 99th Street in Queens. This property spans across two tax lots and includes air rights. The transaction was smoothly orchestrated by Swain Weiner, making the deal a win-win situation for both the buyer, John Tal, and the seller, A W Property Inc.

Players

3 deals$8.9M volume
BROKER

Details

SOLD
IMAGE: 02/08/2021 ADDRESS: 5405 99th St, Queens, NY, 11368 MARKET: Corona ASSET TYPE: Retail BUYER'S REP: Swain Weiner() BUYER: John Tal SELLER: A W Property Inc. PRICE: $3,750,000.00

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$199,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,322.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,776.91
Annual Debt Service$213,322.96