Thomas Balis Acquires Development Site In New York City For $1.15M
SOLD
$1,150,000
New York
See Similar DealsDevelopment Site
Sold 07/17/2023
SOLD
Thomas Balis Acquires Development Site In New York City For $1.15M
14-47 29th Ave, Astoria, NY 11102
See Similar DealsDevelopment Site
Sold 07/17/2023
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
A development site located at 14-47 29th Avenue in New York City has recently been sold. The property, with a sale price of $1,150,000, offers a buildable square footage of 5,000, resulting in a price per buildable square foot (PPBSF) of $230. The transaction took place on 07/17/2023 and was facilitated by Alexandre Goulet and Christopher Daniels from Landair Property Advisors.
Summary of transaction details
- Property Type: Development Site
- Sale Price: $1,150,000
- Buildable Square Footage (BSF): 5,000
- Price per Buildable Square Foot (PPBSF): $230
- Address: 14-47 29th Avenue, New York City
- Market: New York City
Thomas Balis acquired the property from Leslie Huynh in this transaction. Alexandre Goulet and Christopher Daniels of Landair Property Advisors represented both parties as the brokers involved in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$61,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,085.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,451.59
Annual Debt Service$65,419.04
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