Xue Ben Zou & Shao Lin Acquire Retail Property In Jackson Heights, Queens For $9.3M
83-10 Astoria Boulevard, Queens, New York 11370, United States
$9,322,500
$981/SF
Building Size
9,500 SF
Asset Type
Retail
Closing
Sep 12, 2022
About this deal
AI
In a recent transaction in Jackson Heights, Queens, a retail property located at 83-10 Astoria Boulevard was sold for a price of $9,322,500. The property spans approximately 9,500 square feet, resulting in a price per square foot of $981.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $9,322,500
- Address: 83-10 Astoria Boulevard
- Market: Jackson Heights, Queens
The buyers in this transaction were Xue Ben Zou and Shao Lin, while the seller was Jeffrey Novick.
By acquiring this retail asset, Xue Ben Zou and Shao Lin have made a strategic investment in the vibrant market of Jackson Heights, Queens. The transaction reinforces their commitment to expanding their real estate portfolio in this area.
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
1.70%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93