Hui Ling Huang, Qin Hui He & Enyeda Montalvan Acquire Development Site In Staten Island From Naso Organization For $3.36M
501, 505 & 509 Gower St.
Building Size
—
Asset Type
—
Closing
May 24, 2022
About this deal
AI
A development site located at 501, 505, and 509 Gower St. in Staten Island has been sold in a recent transaction. The property, situated in the New York market, has a total buildable square footage (BSF) of 10,500. The sale price for the site was $3,365,000, resulting in a price per buildable square footage (PPBSF) of $320.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $3,365,000
- Address: 501, 505, and 509 Gower St.
- Market: Staten Island
- BSF: 10,500
- PPBSF: $320
The buyers in this transaction were Hui Ling Huang, Qin Hui He, and Enyeda Montalvan. They acquired the development site from the Naso Organization. Represented by Ron Molcho and Maurice Molcho of Molcho Realty Group, the sellers successfully negotiated the sale of the property. It is worth noting that Ron Molcho and Maurice Molcho specialize in assisting clients with land acquisition, design, development, and brokering new construction homes. They actively seek land and development sites in the New York and New Jersey markets. For further inquiries, interested parties can contact Ron Molcho directly at 917-531-1100.
Players
Market CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93