Chetrit Group Acquires Development Site In Jamaica For $10.3M
147-27 Archer Avenue, Queens, New York 11435, United States
$10,328,207
$59/SF
Building Size
174,636 SF
Asset Type
Development Site
Closing
Jun 6, 2022
AI
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
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
1.54%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93