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

Property Image
SOLD
$12,500,000
Ethan Stanton
Brendan Maddigan
Winfield Clifford
+ 1

California

See Similar Deals
Development Site
Sold 10/18/2023
the dealplayerscompscontact
Property Image
SOLD

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

68-19 Woodhaven Boulevard

See Similar Deals
Development Site
Sold 10/18/2023
Ethan Stanton
Brendan Maddigan
Winfield Clifford
+ 1
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Development Site
Transaction Type:Sale

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
Brendan Maddigan
125 deals$4.7B volume(508) 733-8445
BROKER
Ethan Stanton
JLL
Ethan Stanton
133 deals$6.1B volume(516) 790-7718
BROKER
Winfield Clifford
JLL
Winfield Clifford
75 deals$2.6B volume(212) 376-5443
BROKER
Michael Mazzara
JLL
Michael Mazzara
111 deals$3.9B volume(212) 376-5450
BROKER

Details

SOLD
IMAGE: Ethan Stanton, Michael Mazzara, Brendan Maddigan & Winfield Clifford DATE: 10/18/2023 ADDRESS: 68-19 Woodhaven Boulevard MARKET: Rego Park, Queens ASSET TYPE: Development Site BUYER: SMJ Development SELLER: Prospect Property Group BROKERS: Ethan Stanton (@Snipa_Stanton), Michael Mazzara (@MMazz129), Brendan Maddigan (@BrendanMaddigan) & Winfield Clifford - JLL (@JLL) SALE PRICE: $12,500,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$666,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$44,409.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,256.38
Annual Debt Service$711,076.53