Ahmed Qasemi Acquires Development Site In Richmond Hill For $1.6M
SOLD
$1,600,000
New York
See Similar DealsDevelopment Site
Sold 01/17/2024
SOLD
Ahmed Qasemi Acquires Development Site In Richmond Hill For $1.6M
117-01 Atlantic Avenue
See Similar DealsDevelopment Site
Sold 01/17/2024
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$85,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,684.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,584.82
Annual Debt Service$91,017.80
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