Updated Dec 21, 2023
Sam Zirkiev Acquires Development Site In Far Rockaway For $1.24M
14-10 Beach Channel Drive, Far Rockaway, NY 11691, USA
$1,240,000
$34/SF
Building Size
35,781 SF
Asset Type
Development Site
Closing
Jul 7, 2020
About this deal
AI
Located in Far Rockaway, this development site at 14-10 Beach Channel Drive has been sold in a recent transaction. The property offers a total buildable square footage (BSF) of 35,781, with a price per buildable square footage (PPBSF) of $35. The sale took place on July 7, 2021, and the transaction amount was $1,240,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,240,000
- Address: 14-10 Beach Channel Drive
- Market: Far Rockaway
- BSF: 35,781
- PPBSF: $35
Sam Zirkiev acted as the buyer in the transaction, while Alfred Steadman was the seller. Representing the seller were Thomas Donovan and Tommy Lin, who are affiliated with B6 Real Estate Advisors.
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
12.79%
Cash-on-Cash
-3.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93