Updated Sep 9, 2024
Mike Sandhu Acquires Development Site In Jamaica, Queens For $4.35M
143-08 94th Ave, Jamaica, NY 11435, USA
$4,350,000
$14/SF
Building Size
300,330 SF
Asset Type
Development Site
Closing
Dec 9, 2019
About this deal
AI
A development site located at 143-08 94th Avs in Jamaica, Queens has been sold in a closed transaction. The property, measuring 60' wide, was sold for a sale price of $4,350,000. Being a development site, it offers great potential for future construction projects. The property boasts a total buildable square footage (BSF) of 30,033, which translates to a price per buildable square footage (PPBSF) of $145.
Summary of transaction details
- Property Type: Development Site
- Asking Price: $4,500,000
- Sale Price: $4,350,000
- Address: 143-08 94th Avs, Jamaica, Queens
- Market: Jamaica, Queens
- BSF: 30,033
- PPBSF: $145
The seller of the development site was Moises Alvarado, while the buyer was Mike Sandhu. The transaction was facilitated by the brokers Thomas A. Donovan and Christoffer Brodhead of 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
3.65%
Cash-on-Cash
-1.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93