Midwood Investment And Development Acquires 3 Retail Spaces In Flushing For $18M From Seller Frank Mavronicolas
91-19 Queens Blvd, Flushing, NY 11373, USA
Building Size
5,300 SF
Asset Type
Retail
Closing
Dec 19, 2017
About this deal
AI
Located at 91-19 Queens Boulevard in Flushing, New York, this property consists of three retail spaces totaling 5,300 square feet. The asset was recently sold for a price of $18,000,000, resulting in a price per square foot of $3,396. The transaction involved the sale of the property from seller Frank Mavronicolas to the buyer, Midwood Investment and Development – John Usdan.
Summary of transaction details
- Property Type: 3 Retail Spaces
- Transaction Amount: $18,000,000
- Square Footage: 5,300 sf
- Price per Square Foot: $3,396
- Address: 91-19 Queens Boulevard, New York
- Market: Flushing
Midwood Investment and Development – John Usdan was represented by their broker in the deal.
Players
Elmhurst Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93