Marcal Group Acquires Development Site In Rockaway Beach For $3.9M
10119 Rockaway Beach Boulevard, Rockaway Park, NY, 11694, USA
$3,900,000
$410/SF
Building Size
9,500 SF
Asset Type
Development Site
Closing
Apr 16, 2019
AI
A development site in Rockaway Beach has been sold for $3.9 million. Located at 101-19 Rockaway Beach Blvd, the property spans 39,000 square feet and has a price per buildable square foot of $100. The transaction took place on April 17, 2019.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $3.9 million
- Address: 101-19 Rockaway Beach Blvd
- Market: Rockaway Beach
- BSF: 39,000
- PPBSF: $100
Kelley Brooke was the seller of the development site, while Mark Caller of Marcal Group acted as the buyer. The transaction was facilitated by Louis Cotrone of B6 Real Estate.
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.07%
Cash-on-Cash
-1.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93