Updated Oct 29, 2024
Shorewood Real Estate Group Acquires Residential Development Site In Jamaica, Queens From Kassab Brothers For $20M
160-05 Archer Ave, Jamaica, NY 11433, USA
$20,000,000
$97/SF
Building Size
205,725 SF
Asset Type
Development Site
Closing
Aug 22, 2018
About this deal
AI
The residential development site located at 160-05 Archer Ave and 92-25 160th Street in Jamaica, Queens, New York has been sold for a price of $20,000,000. This property has a building square footage (BSF) of 205,725 and a price per BSF (PPBSF) of $97. The seller of this property is the Kassab brothers, while the buyer is Shorewood Real Estate Group.
Summary of transaction details
- Property Type: residential development site
- Transaction Amount: $20,000,000
- Building Square Footage (BSF): 205,725
- Price per BSF (PPBSF): $97
- Seller: Kassab brothers
- Buyer: Shorewood Real Estate Group
The transaction was facilitated by S. Lawrence Davis, the CEO of Shorewood Real Estate Group.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93