William Fani Acquires $12M Retail Property In Queens From Sandra Lehman
79-15 Eliot Avenue
$12,000,000
$1,200/SF
Building Size
10,000 SF
Asset Type
Retail
Closing
Oct 14, 2022
About this deal
AI
The retail property located at 79-15 Eliot Avenue in Queens has been sold for a total price of $12,000,000. The property spans 10,000 square feet, resulting in a price per square foot of $1,200. The transaction took place on October 14, 2022, with William Fani as the buyer and Sandra Lehman as the seller.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $12,000,000
- Address: 79-15 Eliot Avenue, Queens
- Market: Queens
- Buyer: William Fani
- Seller: Sandra Lehman
- Brokers: Thomas A. Donovan & Tommy Lin - B6 Real Estate Advisors
- Square Footage: 10,000
- Price per Square Foot: $1,200
Thomas A. Donovan and Tommy Lin from B6 Real Estate Advisors represented the buyer and seller in this transaction. Their expertise and guidance facilitated the successful completion of the deal.
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
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93