Esagh Malekan Acquires Retail Property In Broad Channel For $1.875M From Seller Robert Pisani
925 Cross Bay Boulevard, Queens, New York 11693, United States
$1,875,000
$381/SF
Building Size
4,914 SF
Asset Type
Retail
Closing
Sep 29, 2022
About this deal
AI
A retail property located at 925 Cross Bay Blvd in Broad Channel has been sold for $1,875,000. The property spans 4,914 square feet, resulting in a price per square foot of $382. The transaction took place on September 30, 2022, and the buyer was Esagh Malekan, while the seller was Robert Pisani.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $1,875,000
- Square Footage: 4,914
- Price per Square Foot: $382
- Address: 925 Cross Bay Blvd
- Market: Broad Channel
The deal was facilitated by Thomas A. Donovan from B6 Real Estate Advisors, who represented both the buyer, Esagh Malekan, and the seller, Robert Pisani.
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
8.46%
Cash-on-Cash
-2.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93