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GIZ Properties Purchases Retail Building From David Sedgh And Jeffrey Brandler For $7M In Flushing
SOLD
$7,000,000
New York
See Similar DealsRetail13,700 SF
Sold 06/25/2025
SOLD
GIZ Properties Purchases Retail Building From David Sedgh And Jeffrey Brandler For $7M In Flushing
67 03 Main Street
See Similar DealsRetail13,700 SF
Sold 06/25/2025
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$510
Total Square Footage:13,700 SF
Transaction Type:Sale
The retail building located at 67-03 Main Street in Flushing, Queens was sold for $7,000,000. The asset spans a total building square footage of 15,975 with an approximate price per building square foot of $438. The property also has a total square footage of 13,700, which translates to a price per square foot of $511.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,000,000
- Buyer: GIZ Properties
- Seller: David Sedgh & Jeffrey Brandler
- Closing Date: June 25, 2025
The transaction involved GIZ Properties as the buyer, acquiring the property from sellers David Sedgh and Jeffrey Brandler, marking a significant retail real estate deal in the Flushing market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$373,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,869.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,183.57
Annual Debt Service$398,202.85
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