Updated Dec 4, 2024
Eric Bauer Sells Development Site In Flushing, Queens For $5M
142-06 41st Avenue
$5,000,000
$1,342/SF
Building Size
3,725 SF
Asset Type
Development Site
Closing
Jun 4, 2024
About this deal
AI
The property involved in the transaction is a Development Site located at 142-06 41st Avenue in Flushing, Queens. It spans 3,725 square feet with a building square footage of 19,096. The sale price for this asset was $5,000,000, equating to a price per square foot of $1,342 and a price per building square foot of $262.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $5,000,000
- Market: Flushing, Queens
- Seller: Eric Bauer
- Broker: Michael Ferrara - Brax Realty
Michael Ferrara of Brax Realty played a crucial role in this deal as he was the exclusive representative for the seller, Eric Bauer. Additionally, he facilitated the transaction by procuring the buyer for this Development Site in Flushing, Queens.
On the Map
$5,000,000
$1,342/SF
Development Site
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Players
Flushing 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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93