Chang Bao Acquires Astoria Development Site For $2.6M
SOLD
$2,625,000
California
See Similar DealsDevelopment Site10,818 SF
Sold 06/25/2020
SOLD
Chang Bao Acquires Astoria Development Site For $2.6M
31 49,51,53 14th Street, Astoria
See Similar DealsDevelopment Site10,818 SF
Sold 06/25/2020
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$242
Total Square Footage:10,818 SF
Transaction Type:Sale
A development site located at 31-49,51,53 14th street in Astoria has been sold in a closed transaction. The property, with a total square footage of 10,818 and a price per square foot of $243, was listed with an asking price of $2,999,000. The final sale price for the site was $2,625,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,625,000
- Address: 31-49,51,53 14th street, Astoria
- Market: Astoria
The seller of the property was Sergio Maccarrone, while the buyer was Chang Bao. Representing the deal were brokers Jeremy Ruiz and Gregory Kyroglou from ModernSpaces.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$139,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,326.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,443.84
Annual Debt Service$149,326.07
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