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Guy Pennisi Of FTK Group Holdings LLC Purchases Development Site From Leser Group For $11.1M
SOLD
$11,100,000
New York
See Similar DealsDevelopment Site101,938 SF
Sold 11/19/2025
SOLD
Guy Pennisi Of FTK Group Holdings LLC Purchases Development Site From Leser Group For $11.1M
118 Central Avenue
See Similar DealsDevelopment Site101,938 SF
Sold 11/19/2025
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$108
Total Square Footage:101,938 SF
Transaction Type:Sale
This development site is located at 118 Central Avenue in St George, Staten Island. The property comprises 101,938 buildable square feet and was sold for $11,100,000, equating to a price per square foot of $109. The sale was finalized on November 19, 2025.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $11,100,000
- Buyer: Guy Pennisi
- Seller: Leser Group
- Market: St George, Staten Island
- Square Footage: 101,938
- Price per Square Foot: $109
Guy Pennisi, through FTK Group Holdings LLC, acquired the development parcel from Leser Group, marking a significant transaction in the Staten Island market. The closing date for this deal was November 19, 2025.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$592,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,435.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,619.66
Annual Debt Service$631,435.96
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