Carpentiere Pasquale Sells Development Site In Jamaica, Queens For $5.32M
148 89th Avenue, Queens, New York 11421, United States
$5,320,000
$84/SF
Building Size
62,905 SF
Asset Type
Development Site
Closing
Jun 12, 2022
AI
The recently closed transaction in Jamaica, Queens involves a development site located at 148-15 89th Ave. The property has a total buildable square footage (BSF) of 62,905, with a price per buildable square footage (PPBSF) of $84. The sale price for this development site was $5,320,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,320,000
- Market: Jamaica, Queens
- Address: 148-15 89th Ave.
The seller in this transaction was Carpentiere Pasquale. Asset CRG Advisors represented the seller, and the brokers involved in the deal were Yuriy Ustoyev and Sadya Liberow from Asset CRG Advisors.
Asset CRG Advisors has a strong presence in the Jamaica, Queens neighborhood, with this being their 10th sale in the area. They have successfully completed approximately 1,000,000 buildable square feet of development in Jamaica. For further information on development opportunities and other investment opportunities in the area, interested parties can contact Sadya Liberow at [email protected] or 646.363.6175, and Yuriy Ustoyev at [email protected] or 718.838.4842.
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
2.98%
Cash-on-Cash
-0.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93