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Emanuel Abayev Acquires Retail Property In Fresh Meadows, Queens For $960K

Property Image
SOLD
$960,000

New York

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Retail1,600 SF
Sold 03/11/2021
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Property Image
SOLD

Emanuel Abayev Acquires Retail Property In Fresh Meadows, Queens For $960K

79-14 164th Street, Fresh Meadows, Queens County, NY, USA

See Similar Deals
Retail1,600 SF
Sold 03/11/2021
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$600
Total Square Footage:1,600 SF
Transaction Type:Sale

Located at 79-14 164th Street in Fresh Meadows, Queens, this retail property was recently sold in a closed transaction. The property spans 1,600 square feet and features an asset type of retail. The sale took place on March 11, 2021, with a sale price of $960,000. The price per square foot is $600, and the building has a base square footage of 4,000, resulting in a price per base square foot of $240.

Summary of transaction details

  • Property Type: Retail
  • Sale Price: $960,000
  • Square Footage: 1,600
  • Price Per Square Foot: $600
  • Base Square Footage: 4,000
  • Price Per Base Square Foot: $240

The buyer of the property was Emanuel Abayev, while the seller was Choi Ha Irrevocable Trust. The deal was facilitated by Marc Richter & Jacob Ashkenazie, representatives from Commerce Realty Group. They can be contacted at 718-751-5799. It is worth noting that Commerce Realty Group has active buyers who are interested in investment properties in Queens and Brooklyn.

Players

5 deals$8.9M volume
BROKER

Marc Richter
7 deals$12.8M volume(646) 342-8959
BROKER

Details

SOLD
IMAGE: Marc Richter & Jacob Ashkenazie DATE: 03/11/2021 ADDRESS: 79-14 164th Street MARKET: Fresh Meadows, Queens ASSET TYPE: Retail BUYER: Emanuel Abayev SELLER: Choi Ha Irrevocable Trust BROKERS: Marc Richter & Jacob Ashkenazie @CommerceRealtyGroup SALE PRICE: $960,000 BSF: 4,000 ~ PPBSF: $240 SF: 1,600 ~ PPSF: $600 NOTE FROM BROKER: @CommerceRealtyGroup has active buyers looking for investment properties in Queens & Brooklyn! If you're thinking of selling, give us a call at 718-751-5799!

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$51,199.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,410.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,550.89
Annual Debt Service$54,610.68