Chetrit Group Acquires Development Site In Jamaica For $10.3M
SOLD
$10,328,207
New York
See Similar DealsDevelopment Site174,636 SF
Sold 06/07/2022
SOLD
Chetrit Group Acquires Development Site In Jamaica For $10.3M
147-27 Archer Avenue, Queens, New York 11435, United States
See Similar DealsDevelopment Site174,636 SF
Sold 06/07/2022
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$59
Total Square Footage:174,636 SF
Transaction Type:Sale
The Chetrit Group has acquired a development site in Jamaica. The property, located at 147-27 Archer Avenue & 147-28 Jamaica Avenue, was sold by Peter Kulka. The sale took place on June 7, 2022.
Summary of transaction details
- Property Type: Development Site
- Sale Price: $10,328,207
- Building Square Footage: 174,636
- Price per Building Square Foot: $59
- Market: Jamaica
The Chetrit Group represented themselves in the transaction, while Peter Kulka acted independently. Joe Chetrit, as the buyer's representative, played a key role in the deal.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$550,837.70
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$36,693.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,960.97
Annual Debt Service$587,531.64
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