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501, 505 & 509 Gower St.

Updated Oct 28, 2024

Hui Ling Huang, Qin Hui He & Enyeda Montalvan Acquire Development Site In Staten Island From Naso Organization For $3.36M
SOLD

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.

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Players

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Naso OrganizationSeller

Market CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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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

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