Zvi Reisch Acquires Retail Property On Grand Avenue In Queens For $8.7M
73-55 Grand Avenue, Queens, New York 11378, United States
$8,700,000
$2,949/SF
Building Size
2,950 SF
Asset Type
Retail
Closing
May 4, 2022
AI
The retail property located at 73-55 Grand Avenue in Queens has been sold for a price of $8,700,000. The property spans a total of 2,950 square feet, resulting in a price per square foot of $2,949.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,700,000
- Address: 73-55 Grand Avenue
- Market: Queens
The buyer of the property is Zvi Reisch, while the seller is Mazza & Avena Co. Inc., represented by Michael Mazza. The deal was facilitated by brokers Frank Caporrino from Triple Net Brokers and Clem Cesare from Invest Commercial.
Players
New York 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
1.82%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93