Sunlight Development Acquires Property In Astoria Queens For $25 Million With Ripco As Seller's Rep
3055 Vernon BLVD, Queens, NY, 11102
$25,000,000
Building Size
—
Asset Type
Condo
Closing
Aug 30, 2022
About this deal
AI
The property asset involved in this transaction is located at 3055 Vernon BLVD, Queens, NY, 11102 within the Astoria market. The transaction amount is $25,000,000.00, and the property has a square footage of 0.
Summary of transaction details:
- Property Type: SALE
- Transaction Amount: $25,000,000.00
- Address: 3055 Vernon BLVD, Queens, NY, 11102
- Market: Astoria
- Seller's Representatives: Kevin Louie (Ripco), Kevin Schmitz (Ripco), Andreas Efthymiou (Ripco)
- Buyer: Sunlight Development
This transaction highlights the involvement of multiple representatives from Ripco, underscoring their role in facilitating the sale. The buyer, Sunlight Development, is positioned within the market to utilize this property effectively, while the comprehensive representation by Kevin Louie, Kevin Schmitz, and Andreas Efthymiou illustrates a collaborative effort in this deal.
On the Map
$25,000,000
Condo
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Players
Astoria Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93