Andy Zheng Acquires Two-Story Mixed-Use Building In East Elmhurst For $1,025,000

A two-story mixed-use building with 3 commercial units and 2 residential units was sold for $1,025,000 in East Elmhurst, New York. The property, located at 91-01 31st Avenue, spans 3,400 square feet and is situated in Queens. With a price per square foot of $301, the building offers a 5.5% capitalization rate. The zoning for the property is R4B / C1-3.

Summary of transaction details

• Property Type: Two-Story Mixed-Use Building (3 Commercial & 2 Residential Units)
• Transaction Amount: $1,025,000
• Square Footage: 3,400 sf
• Price Per Square Foot: $301
• Capitalization Rate: 5.5%
• Address: 91-01 31st Avenue, East Elmhurst, New York
• Market: Queens
• Zoning: R4B / C1-3

The seller of the property was Fay Ping Chiang, while the buyer was Andy Zheng. The deal was facilitated by Stephen R. Preuss of [...].