Michael Maunsell Of SymmetryCRG Represents Buyer In Flushing Development Site Sale For $6.378M
158 06 Northern Boulevard
$6,378,000
$708/SF
Building Size
9,000 SF
Asset Type
Development Site
Closing
May 19, 2025
AI
The property asset involved in this transaction is a development site located at 158-06 Northern Boulevard in the Flushing market. The sale price for this asset was $6,378,000, and it encompasses a total square footage of 9,000, resulting in a price per square foot of $708.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,378,000
- Square Footage: 9,000
- Price per Square Foot: $708
- Buyer’s Representative: Michael Maunsell - SymmetryCRG
- Seller’s Representatives: Scott Plasky & William Stephan - Marcus & Millichap
- Date of Transaction: 5/20/2025
This transaction involved notable individuals in the commercial real estate field, with Michael Maunsell representing the buyer, while Scott Plasky and William Stephan represented the seller. Their respective affiliations are with SymmetryCRG and Marcus & Millichap, both recognized agencies in real estate representation.
Players
Flushing 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
2.49%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93