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68-19 Woodhaven Boulevard

SMJ Development Acquires Development Site On Woodhaven Boulevard In Rego Park, Queens
SOLDDevelopment Site

SMJ Development Acquires Development Site On Woodhaven Boulevard In Rego Park, Queens

68-19 Woodhaven Boulevard

$12,500,000

Building Size

Asset Type

Development Site

Closing

Oct 18, 2023

AI

A development site located at 68-19 Woodhaven Boulevard in Rego Park, Queens has been sold for $12,500,000. The property was acquired by SMJ Development from Prospect Property Group.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $12,500,000
  • Address: 68-19 Woodhaven Boulevard
  • Market: Rego Park, Queens

Ethan Stanton, Michael Mazzara, Brendan Maddigan, and Winfield Clifford from JLL represented both the buyer, SMJ Development, and the seller, Prospect Property Group, in this transaction.

Players

Brendan Maddigan

JLL

Broker

$4.7B

vol

127 deals

Broker

Spring Valley Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.27%

Cash-on-Cash

-0.36%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93