Updated Sep 9, 2024
Development Site In Astoria Sells For $2.58M With Rubin Isak & Lev Kimyagarov As Brokers
25-92 & 25-92a 31st Street
$2,580,000
Building Size
—
Asset Type
Development Site
Closing
Mar 16, 2023
About this deal
AI
Rubin Isak & Lev Kimyagarov, Development Site Advisors, represented both the buyer and the seller in the sale of a development site located at 25-92 & 25-92A 31st Street in Astoria. The transaction took place on 03/16/2023.
Summary of transaction details
- Property Type: Development Site
- Sale Price: $2,580,000
- Address: 25-92 & 25-92A 31st Street
- Market: Astoria
The development site, situated in Astoria, was sold for a total of $2,580,000. The property offers significant potential for development and is located at 25-92 & 25-92A 31st Street. Astoria is a thriving market with growing demand for real estate opportunities.
Rubin Isak & Lev Kimyagarov, Development Site Advisors, played a crucial role in facilitating the transaction as representatives of both the buyer and the seller. Their expertise in development sites ensured a smooth completion of the deal, benefiting both parties involved.
Players
Market Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.15%
Cash-on-Cash
-1.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93