GIZ Properties Purchases Retail Building From David Sedgh And Jeffrey Brandler For $7M In Flushing
67 03 Main Street
$7,000,000
$510/SF
Building Size
13,700 SF
Asset Type
Retail
Closing
Jun 25, 2025
AI
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.
Players
Flushing 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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93