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Moses Frund Acquires Development Site In Jamaica From Rita Stark For $9.9M

Property Image
SOLD
$9,900,000
Adelaide Polsinelli
Michael Cardillo

New York

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Development Site100,000 SF
Sold 07/07/2025
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Property Image
SOLD

Moses Frund Acquires Development Site In Jamaica From Rita Stark For $9.9M

147 16 94th Avenue

See Similar Deals
Development Site100,000 SF
Sold 07/07/2025
Adelaide Polsinelli
Michael Cardillo
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$99
Total Square Footage:100,000 SF
Transaction Type:Sale

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:

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

Adelaide Polsinelli
Compass
Adelaide Polsinelli
26 deals$285M volume(773) 350-8535
BROKER
Michael Cardillo
Compass
Michael Cardillo
4 deals$36.1M volume(917) 837-4681
BROKER
Compass
Compass
BROKERAGE

Details

SOLD
IMAGE: Adelaide Polsinelli & Michael Cardillo DATE: 7/7/2025 ADDRESS: 147-16 94th Avenue MARKET: Jamaica ASSET TYPE: Development Site BUYER: Moses Frund SELLER: Rita Stark BROKERS: Adelaide Polsinelli (@Adelaide_Polsinelli) & Michael Cardillo - Compass (@Compass) SALE PRICE: $9,900,000 BSF: 100,000 ~ PPBSF: $99

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$35,172.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$46,931.05
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