Zvi Reisch Acquires Retail Property On Grand Avenue In Queens For $8.7M
SOLD
$8,700,000
New York
See Similar DealsRetail2,950 SF
Sold 05/05/2022
SOLD
Zvi Reisch Acquires Retail Property On Grand Avenue In Queens For $8.7M
73-55 Grand Avenue, Queens, New York 11378, United States
See Similar DealsRetail2,950 SF
Sold 05/05/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$2,949
Total Square Footage:2,950 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$463,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,909.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,242.44
Annual Debt Service$494,909.26
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