Hua Mei Lin Acquires Retail Property In Woodside, Queens For $10M
61-17 Roosevelt Avenue, Woodside, Queens County, NY, USA
$10,000,000
$615/SF
Building Size
16,236 SF
Asset Type
Retail
Closing
Jun 1, 2021
About this deal
AI
The property located at 61-17 Roosevelt Avenue & 61-19 Roosevelt Avenue in Woodside, Queens, has been sold for $10,000,000. The retail asset has a total square footage of 16,236 and a price per square foot of $615. The building has a total of 35,468 buildable square feet, with a price per buildable square foot of $281. The property has a floor area ratio (FAR) of 0.86 and is zoned for R6, R5D, and C1-4. The lot size is 3,086 square feet, with dimensions of 23.87 ft x 162.57 ft. The property falls under tax class 4 and has a permit for alteration type 2 issued on April 10, 2018.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $10,000,000
- Market: Woodside, Queens
- Zoning: R6, R5D, C1-4
The buyer involved in the transaction is Hua Mei Lin, and the seller is Michael Affronti.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Deal FAQ
Browse New York retail sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93