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
Spring Valley Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
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