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Jeff Sutton Sells Whitestone Development Site To Little Flock Church For $3M
SOLD
$3,000,000
New York
See Similar DealsDevelopment Site
Sold 02/14/2024
SOLD
Jeff Sutton Sells Whitestone Development Site To Little Flock Church For $3M
11-08 154th Street & 11-10 154th Street
See Similar DealsDevelopment Site
Sold 02/14/2024
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
The development site at 11-08 and 11-10 154th Street in Whitestone, Queens, was sold for $3,000,000. The property spans 7,281 square feet, resulting in a price per square foot of $412.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,000,000
- Address: 11-08 & 11-10 154th Street
- Market: Whitestone, Queens
- Seller: Jeff Sutton - Wharton Properties
Jeff Sutton, leading Wharton Properties, completed the sale of the development parcels to Little Flock Church for $3 million. The transaction marks a significant deal within the Whitestone, Queens area, involving two prominent parties in the real estate sector.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$160,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37
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