Paul Tehao pays $8.7M to Vincent Parrish for rental in Flushing
Paul Tehao through the entity Flushing Gold Coast Apt., LLC paid $8.7 million to Vincent Parrish through the entity P & P Real Estate Co. for the 48-unit rental (D1) at 140-71 Ash Avenue in Flushing, Queens.
The deal closed on June 30, 2021 and was recorded on July 19, 2021.
The property has 38,894 square feet of built space and 0 square feet of additional air rights for a total buildable of 28,800 square feet according to PincusCo analysis of city data. The sale price per built square foot is $222 per the PincusCo analysis.
The signatory for Vincent Parrish was Vincent Parrish. The signatory for Paul Tehao was Paul Tehao.
The former owners according to the Department of Housing Preservation and Development included Vincent Parrish, head officer and Louise Parrish, officer. The business entity was P & P Real Estate Co.
Within a 400-foot radius of 140-71 Ash Avenue, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, one was for major renovation including a certificate of occupancy change. It was a permit issued on August 12, 2019 for the $1.0 million renovation of 5,476-square-foot R-3 building with seven residential units at 142-38 Franklin Avenue.
One of those two items was a loan which Pinnacle Group borrowed $11.8 million from Axos Bank secured by 94 condo units in the 255-unit mixed-use building (RM) on 142-20 Franklin Avenue on January 19, 2021.
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