Eric Delafraz's RealtyCapitalNY Acquires Development Site In Jamaica, Queens For $2.1M
SOLD
$2,100,000
New York
See Similar DealsDevelopment Site9,297 SF
Sold 03/16/2021
SOLD
Eric Delafraz's RealtyCapitalNY Acquires Development Site In Jamaica, Queens For $2.1M
Metropolitan Avenue, Richmond Hill, NY 11418
See Similar DealsDevelopment Site9,297 SF
Sold 03/16/2021
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$225
Total Square Footage:9,297 SF
Transaction Type:Sale
The development site at 132-77 & 132-99 Metropolitan Avenue in Jamaica, Queens has been sold for a price of $2,100,000. The property is zoned as R6, C2-3 and offers a lot size of 35.17 ft x 101.75 ft. With a building square footage (BSF) of 9,297, the price per BSF (PPBSF) is $225. The transaction took place on March 16, 2021.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,100,000
- Market: Jamaica, Queens
- Zoning: R6, C2-3
- Lot Size: 35.17 ft x 101.75 ft
- BSF: 9,297
- PPBSF: $225
Eric Delafraz from @RealtyCapitalNY represented the buyer in this transaction, while Daniel Torkan acted as the seller's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$112,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86
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