Ahmed Qasemi Acquires Development Site In Richmond Hill For $1.6M
117-01 Atlantic Avenue
$1,600,000
Building Size
—
Asset Type
Development Site
Closing
Jan 17, 2024
AI
An undisclosed development site located at 117-01 Atlantic Avenue in Richmond Hill has been sold for $1,600,000. The property spans a total of 16,740 square feet and has a price per buildable square foot (PPBSF) of $96.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,600,000
- Address: 117-01 Atlantic Avenue
- Market: Richmond Hill
- Buyer: Ahmed Qasemi
- Seller: Jim Messineo
- Brokers: Alexandre Goulet & Christopher Daniels - Landair Property Advisors
- BSF: 16,740
- PPBSF: $96
Ahmed Qasemi has acquired this undisclosed development site from Jim Messineo. The transaction was facilitated by Alexandre Goulet and Christopher Daniels, representing Landair Property Advisors.
Players
Richmond Hill Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93