Jason Edelman Acquires Development Site In Astoria, Queens For $2.7M
14-35 27th Street
$2,725,000
Building Size
—
Asset Type
Development Site
Closing
Dec 29, 2023
AI
A development site located at 14-35 27th Avenue in Astoria, Queens was recently sold for a price of $2,725,000. The property, with a market value of $257 per square foot, has a total buildable square footage of 10,578. The transaction took place on December 29, 2023.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,725,000
- Address: 14-35 27th Avenue, Astoria, Queens
- Market: Astoria, Queens
- Seller: Anastasios Sarikas
- Buyer: Jason Edelman
- Brokers: Alexandre Goulet & Christopher Daniels - Landair Property Advisors
- Buildable Square Footage: 10,578
- Price per Buildable Square Foot: $257
The transaction was facilitated by the real estate agency Landair Property Advisors, with Alexandre Goulet and Christopher Daniels serving as the brokers representing both the buyer, Jason Edelman, and the seller, Anastasios Sarikas.
Players
Astoria 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
5.82%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93