Rubin Isak, Lev Kimyagarov & John Penaloza's Development Site Advisors Sells Astoria Development Site For $4.75M
25-23 Newtown Ave.
$4,750,000
Building Size
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Asset Type
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Closing
Sep 9, 2022
About this deal
AI
A development site located at 25-23 Newtown Ave. in Astoria has been sold for $4,750,000. The total square footage of the site is 2,610, which results in a price per square foot of $1,819.
Summary of transaction details:
- Property Type: Development site
- Transaction Amount: $4,750,000
- Address: 25-23 Newtown Ave.
- Market: Astoria
- Square Footage: 2,610
- Price Per Square Foot: $1,819
- Brokers: Rubin Isak, Lev Kimyagarov & John Penaloza - Development Site Advisors
Development Site Advisors® is expanding and inviting individuals to join as development site agents. They offer support, mentorship, tools, and training for new agents. Interested parties can reach out to Lev Kimyagarov, Rubin Isak, or the Development Site Advisors for details on joining the company.
Players
New York 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
3.34%
Cash-on-Cash
-0.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93