Moses Frund Acquires Development Site In Jamaica From Rita Stark For $9.9M
147 16 94th Avenue
$9,900,000
$99/SF
Building Size
100,000 SF
Asset Type
Development Site
Closing
Jul 6, 2025
AI
The asset involved in this transaction is a development site located at 147-16 94th Avenue in Jamaica. The sale price was $9,900,000, and the property has a total square footage of 100,000, translating to a price per square foot of $99.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $9,900,000
- Address: 147-16 94th Avenue
- Market: Jamaica
- Buyer: Moses Frund
- Seller: Rita Stark
- Broker Representatives: Adelaide Polsinelli & Michael Cardillo - Compass
The transaction highlights key individuals involved, including the buyer, Moses Frund, and the seller, Rita Stark. The deal was facilitated by the broker representatives, Adelaide Polsinelli and Michael Cardillo from Compass, who played a significant role in the transaction process.
Players
Jamaica 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
1.60%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93