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Ken Maurer Sells Development Site In Corona, Queens For $4.3M With Brokers Stephen R. Preuss Sr & Kevin Louie

Property Image
SOLD
$4,300,000
Kevin Louie
Stephen R. Preuss Sr.
KM

New York

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Development Site24,000 SF
Sold 12/03/2021
the dealplayerscompscontact
Property Image
SOLD

Ken Maurer Sells Development Site In Corona, Queens For $4.3M With Brokers Stephen R. Preuss Sr & Kevin Louie

101-01 Northern Boulevard, Queens, NY, USA

See Similar Deals
Development Site24,000 SF
Sold 12/03/2021
Kevin Louie
Stephen R. Preuss Sr.
KM
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$179
Total Square Footage:24,000 SF
Transaction Type:Sale

Stephen R. Preuss Sr & Kevin Louie have closed a deal for a development site located at 101-01 & 101-07 Northern Boulevard in Corona, Queens. The property is being sold by Ken Maurer for a sale price of $4,300,000. The development site has a building square footage (BSF) of 24,000 and a price per BSF (PPBSF) of $179.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $4,300,000
  • Address: 101-01 & 101-07 Northern Boulevard, Corona, Queens
  • Market: Corona, Queens
  • BSF: 24,000
  • PPBSF: $179
  • Seller: Ken Maurer
  • Broker: Stephen R. Preuss Sr & Kevin Louie

Stephen R. Preuss Sr & Kevin Louie represented the seller, Ken Maurer, in this transaction.

Players

Kevin Louie
Ripco
Kevin Louie
126 deals$1B volume(718) 663-2642
BROKER
Stephen R. Preuss Sr.
Ripco
Stephen R. Preuss Sr.
259 deals$2B volume(718) 663-2639
BROKER
KM
Ken Maurer
2 deals$10M volume
SELLER

Details

SOLD
IMAGE: Stephen R. Preuss Sr & Kevin Louie ADDRESS: 101-01 & 101-07 Northern Boulevard MARKET: Corona, Queens ASSET TYPE: Development Site SELLER: Ken Maurer BROKER: Stephen R. Preuss Sr & Kevin Louie SALE PRICE: $4,300,000 BSF: 24,000 ~ PPBSF: $179

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$229,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,277.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,384.19
Annual Debt Service$244,610.33