Updated Sep 9, 2024
Ahmed Qasemi Acquires Development Site In Springfield Gardens For $1.075M
125-02 Merrick Blvd, Jamaica, Ny 11434
$1,075,000
$147/SF
Building Size
7,267 SF
Asset Type
Development Site
Closing
May 1, 2023
About this deal
AI
125-02 Merrick Boulevard is a 7,200 Sq. ft. corner lot located in Springfield Gardens. The property is a development site with a zoning of R5D, C2-3. It was purchased As-Is and delivered vacant. The sale price for this transaction was $1,075,000, with a price per square foot of $148. The building square footage is 14,200, resulting in a price per building square foot of $75. This off-market deal was closed between buyer Ahmed Qasemi and seller Antonio Lopes, with Alexandre Goulet representing the buyer as the broker from Landair Property Advisors.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $1,075,000
- Address: 125-02 Merrick Blvd, Springfield Gardens
- Market: Springfield Gardens
- Square Footage: 7,267
- Price per Square Foot: $148
- Building Square Footage: 14,200
- Price per Building Square Foot: $75
If you have any questions about this transaction or would like to work together in the future, you can contact Alexandre Goulet, the broker for this deal, at [email protected] or (646) 559-4700. Additionally, you can reach out to [email protected] at the same contact information.
Please note that Landair Property Advisors is actively looking for brokers to join their growing I-Sales team. If you're interested, you can send your resume to [email protected].
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
14.76%
Cash-on-Cash
-4.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93