Eshagh Malekan Acquires Retail Property In Jamaica For $2.95M From Seller Choe Hyun Won & Lender TFCU

A retail property located at 103-19 & 103-23 Merrick Blvd in Jamaica has been sold for a price of $2,950,000. The property spans 11,000 square feet, resulting in a price per square foot of $268. The transaction took place on February 26, 2019, with a capitalization rate of 5.6%. The seller of the property was Choe Hyun Won, while the buyer/borrower was Eshagh Malekan.

Summary of transaction details

• Property Type: Retail
• Sale Price: $2,950,000
• Square Footage: 11,000
• Price per Square Foot: $268
• Capitalization Rate: 5.6%
• Seller: Choe Hyun Won
• Buyer/Borrower: Eshagh Malekan

The transaction was facilitated by brokers Josh Lipton and Andrew Levine from Invictus Property Advisors. The loan for the property, in the amount of $1,725,000, was arranged by loan broker Adrian Edery from Paradigm Commercial Real Estate. The loan was provided by tfcu''>TFCU.