Matt Development Sells Mixed-Use Property In Rego Park, Queens For $23.65M With Broker Anudeep Gosal - Besen Partners
92-77 Queens Blvd Rego Park, NY 11374, USA
$23,650,000
$1,182/SF
Building Size
20,000 SF
Asset Type
Retail
Closing
Jul 31, 2023
AI
Anudeep Gosal of Besen Partners brokered the sale of a mixed-use property in Rego Park, Queens. The property, located at 92-77 Queens Boulevard, consists of a hotel and retail space. The deal involved 50 keys, and the transaction was completed by Matt Development.
Summary of transation details
- Property Type: Mixed-Use (Hotel + Retail)
- Transaction Amount: $23,650,000
- Square Footage: 64,556
- Price Per Square Foot: $366
- Address: 92-77 Queens Boulevard, Rego Park, Queens
- Market: Rego Park, Queens
This deal was facilitated by Anudeep Gosal, who acted as the broker representing Besen Partners in the transaction. Anudeep Gosal played a crucial role in connecting the buyer and seller, ensuring a successful closing for this mixed-use property.
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
0.67%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93