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
About this deal
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.
On the Map
$8,700,000
$2,949/SF
Retail
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Players
Queens 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