Sergey Rybak & Natalia Sorkin Acquire Development Site In Queens For $19.9M
SOLD
$19,865,703
+ 3
New York
See Similar DealsDevelopment Site147,500 SF
Sold 06/30/2022
SOLD
Sergey Rybak & Natalia Sorkin Acquire Development Site In Queens For $19.9M
119-17 Union Turnpike
See Similar DealsDevelopment Site147,500 SF
Sold 06/30/2022
+ 3
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$134
Total Square Footage:147,500 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,059,504.18
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$70,578.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,173.57
Annual Debt Service$1,130,082.81
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