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125-02 Merrick Blvd, Jamaic...

Ahmed Qasemi Acquires Development Site In Springfield Gardens For $1.075M
SOLDDevelopment Site

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

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

Alexandre Goulet

Landair Advisors

Broker

$163.2M

vol

45 deals

Broker

Ahmed S Qasemi

Buyer

$8.2M

vol

3 deals

Buyer

New York Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

Loading comparables…

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