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Stephen Ross, Jeff Blau & Frank Monterisi Acquire Development Site In Corona, Queens For $12.3M

Property Image
SOLD
$12,300,000

New York

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Development Site
Sold 01/11/2024
the dealplayerscompscontact
Property Image
SOLD

Stephen Ross, Jeff Blau & Frank Monterisi Acquire Development Site In Corona, Queens For $12.3M

Development Site
Sold 01/11/2024
the dealplayerscompscontact
Contact now

Summary

Asset Type:Development Site
Transaction Type:Sale

The development site located at 126-17 34th Avenue & 126-11 34th Avenue in Corona, Queens has been sold for a price of $12,300,000. The property spans a lot size of 19,800 square feet, resulting in a price per land square foot of $621. The site has a total buildable square footage of 68,112, leading to a price per buildable square foot of $181.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $12,300,000
  • Lot Size: 19,800 sqft
  • Price per Land Square Foot: $621
  • Total Buildable Square Footage: 68,112
  • Price per Buildable Square Foot: $181
  • Address: 126-17 34th Avenue & 126-11 34th Avenue
  • Market: Corona, Queens

The buyers in the transaction are Stephen Ross, Jeff Blau, and Frank Monterisi from Related Companies, Fred Wilpon from Sterling Equities and NYCFC, and Mansour bin Zayed Al Nahyan. On the other hand, Eric Benaim from Benaim X Partners represents the seller.

Players

Eric Benaim
Eric Benaim
8 deals$473.7M volume
SELLER

Details

SOLD
IMAGE: Stephen Ross, Frank Monterisi, Jeff Blau, Mansour bin Zayed Al Nahyan, Eric Benaim & Fred Wilpon DATE: 01/11/2024 ADDRESS: 126-17 34th Avenue & 126-11 34th Avenue MARKET: Corona, Queens ASSET TYPE: Development Site BUYER: Stephen Ross, Jeff Blau & Frank Monterisi - Related Companies (@RelatedCos), Fred Wilpon - Sterling Equities; NYCFC (@NYCFC) & Mansour bin Zayed Al Nahyan SELLER: Eric Benaim (@EricBenaim) - Benaim X Partners (@BenaimXPartners) SALE PRICE: $12,300,000 LOT SF: 19,800 ~ PPLSF: $621 BSF: 68,112 ~ PPBSF: $181

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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