Marcal Group Acquires Development Site In Rockaway Beach For $3.9M
SOLD
$3,900,000
New York
See Similar DealsDevelopment Site9,500 SF
Sold 04/17/2019
SOLD
Marcal Group Acquires Development Site In Rockaway Beach For $3.9M
10119 Rockaway Beach Boulevard, Rockaway Park, NY, 11694, USA
See Similar DealsDevelopment Site9,500 SF
Sold 04/17/2019
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$410
Total Square Footage:9,500 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$208,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,487.99
Annual Debt Service$221,855.88
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