Guido Subotovsky And Mario Procida Acquire Development Site At 1320 Castle Hill Avenue For $7.5M
SOLD
$7,500,000
+ 1
New York
See Similar DealsDevelopment Site
Sold 11/07/2024
SOLD
Guido Subotovsky And Mario Procida Acquire Development Site At 1320 Castle Hill Avenue For $7.5M
1320 Castle Hill Avenue
See Similar DealsDevelopment Site
Sold 11/07/2024
+ 1
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
The development site located at 1320 Castle Hill Avenue in Parkchester has a sale price of $7,500,000. The property encompasses a building square footage of 54,617, resulting in a price per building square foot of $137.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $7,500,000
- Address: 1320 Castle Hill Avenue
- Market: Parkchester
- BSF: 54,617
- PPBSF: $137
The buyers of the property are Guido Subotovsky of Azimuth Development Group and Mario Procida of Procida Companies. The transaction was facilitated by the brokers Michael Tortorici, Jason M. Gold, Victor Sozio, and Daniel Mahfar from Ariel Property Advisors.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$400,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,553.83
Annual Debt Service$426,645.92
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