Sergey Rybak & Natalia Sorkin Acquire Development Site In Queens For $19.9M
119-17 Union Turnpike
$19,865,703
$134/SF
Building Size
147,500 SF
Asset Type
Development Site
Closing
Jun 30, 2022
AI
A development site located at 119-17 Union Tpke in Queens has been sold for a price of $19,865,703. The property is a development site, offering potential for future construction projects. The site features a building square footage of 147,500 and a price per square footage of $135.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $19,865,703
- Building Square Footage: 147,500
- Price Per Square Foot: $135
- Address: 119-17 Union Tpke
- Market: Queens
Sergey Rybak and Natalia Sorkin have purchased the development site at 119-17 Union Tpke. The deal was facilitated by their brokers, Guthrie Garvin, Brendan Maddigan, Jack Norton, and Michael Mazzara.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.80%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93