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189 30 Linden Blvd, Jamaica...

Isaac Malekan Acquires Retail Property In Queens For $1M With Brokers Stephen R. Preuss And Kevin Schmitz
SOLDRetail

Isaac Malekan Acquires Retail Property In Queens For $1M With Brokers Stephen R. Preuss And Kevin Schmitz

189 30 Linden Blvd, Jamaica, Ny 11412, Usa

$1,000,000

$33/SF

Building Size

30,000 SF

Asset Type

Retail

Closing

Nov 18, 2019

AI

An retail property located at 189-30 Linden Boulevard in Queens has been sold for $1,000,000. The property spans 3,000 square feet, resulting in a price per square foot of $333. It consists of 3 units, with each unit priced at $333,333. The transaction took place between seller Yehuda Cohen and buyer Isaac Malekan.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $1,000,000
  • Square Footage: 3,000
  • Price per Square Foot: $333
  • Units: 3
  • Price per Unit: $333,333

The deal was facilitated by brokers Stephen R. Preuss and Kevin Schmitz from Cushwake. This sale adds to Team Preuss' successful year, marking their 52nd property transaction in 2019.

Players

Stephen R. Preuss Sr.

Ripco

Broker

$2.1B

vol

263 deals

Broker

Isaac Malekan

Buyer

$8.7M

vol

5 deals

Buyer

Yehuda Cohen

Seller

$43.6M

vol

11 deals

Seller

Saint Albans Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

15.86%

Cash-on-Cash

-4.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93