TSINY Acquires Development Site In Jamaica, Queens For $8.1M
SOLD
$8,061,617
New York
See Similar DealsDevelopment Site
Sold 05/24/2023
SOLD
TSINY Acquires Development Site In Jamaica, Queens For $8.1M
148-15 Archer Ave Jamaica, NY 11435, USA
See Similar DealsDevelopment Site
Sold 05/24/2023
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
TSINY has acquired a development site in Jamaica, Queens for a total sale price of $8,061,617. The property, located at 148-15 Archer Avenue & 92-18 149th Street, is a prime location within the Jamaica market.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $8,061,617
- Market: Jamaica, Queens
- Buyer: TSINY
- Brokers: Ryan McGuirl - Avison Young & Shenna Vaughn - Elegran
Ryan McGuirl from Avison Young and Shenna Vaughn from Elegran represented the buyer, TSINY, in this transaction. Their expertise in the market and negotiation skills were instrumental in closing the deal successfully.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$429,952.90
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,641.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$38,216.18
Annual Debt Service$458,594.13
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