Wallace Ave Builders Acquires Development Site In Staten Island For $8.3M
SOLD
$8,300,000
New York
See Similar DealsDevelopment Site77,000 SF
Sold 06/20/2024
SOLD
Wallace Ave Builders Acquires Development Site In Staten Island For $8.3M
0 Wellbrook Avenue
See Similar DealsDevelopment Site77,000 SF
Sold 06/20/2024
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$107
Total Square Footage:77,000 SF
Transaction Type:Sale
The development site located at 0 Wellbrook Avenue in Staten Island was sold for $8,300,000. The property spans 77,000 square feet with a price per square foot of $108. The building square footage is 115,500, resulting in a price per building square foot of $72.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $8,300,000
- Address: 0 Wellbrook Avenue
- Market: Staten Island
- Buyer: Wallace Ave Builders - Randy Franza
- Seller: Archdiocese
- Brokers: Robert Nixon & Anthony Volpe - PreReal Real Estate
Robert Nixon and Anthony Volpe from PreReal Real Estate represented the parties in this transaction, showcasing their expertise in facilitating the sale between Wallace Ave Builders and the Archdiocese.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$442,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,488.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,346.23
Annual Debt Service$472,154.81
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