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78-01 Queens Blvd Queens, N...

Hang Dong Zhang Acquires Retail Property On Queens Boulevard In New York City For $9.55M
SOLDRetail

Hang Dong Zhang Acquires Retail Property On Queens Boulevard In New York City For $9.55M

78-01 Queens Blvd Queens, NY 11373, USA

$9,550,000

$2,609/SF

Building Size

3,660 SF

Asset Type

Retail

Closing

Jul 14, 2023

AI

A retail property located at 78-01 Queens Boulevard in New York City has been sold for $9,550,000. The property spans approximately 3,660 square feet and was sold at a price per square foot of $2,609.

Summary of transaction details:

The buyer, Hang Dong Zhang, acquired the retail property located at 78-01 Queens Boulevard from seller Daniel Licht. The deal was facilitated by the brokers, Thomas Donovan, Tommy Lin, and Andy Chen, representing B6 Real Estate Advisors.

Players

Thomas Donovan

Meridian Capital Group

Broker

$730.7M

vol

51 deals

Broker

Hang Dong Zhang

Buyer

$29.6M

vol

6 deals

Buyer

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

1.66%

Cash-on-Cash

-0.47%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93