Lin Zhuo Acquires Flushing, Queens Dev Site On Northern Blvd For $11.25M
135-25 Northern Blvd, Flushing, Queens County, NY, USA
$11,250,000
$226/SF
Building Size
49,774 SF
Asset Type
Development Site
Closing
Mar 30, 2021
AI
A development site located at 135-25 Northern Blvd in Flushing, Queens has been sold for $11,250,000. The property, with a lot size of 44 ft x 358 ft, is zoned as R6, C2-2. The transaction took place on 03/31/2021 and involved the buyers and sellers, Lin Zhuo and Houdin Honarvar, respectively.
Summary of transation details
- Property Type: Dev Site
- Transaction Amount: $11,250,000
- Market: Flushing, Queens
- Zoning: R6, C2-2
The deal was facilitated by the representatives of the parties involved. Stephen R. Preuss, Kevin Louie, and Charlie Dupont from TeamPreuss acted as brokers in the transaction.
Kevin Louie, Stephen R. Preuss, and Charlie Dupont have shared an image of the property on Instagram.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.41%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93