Anthony Murino Acquires Development Site In Rockaway Beach For $1.05M
163 Beach 96th St, Far Rockaway, NY 11693, USA
$1,050,000
$105/SF
Building Size
10,000 SF
Asset Type
Development Site
Closing
Aug 28, 2018
AI
A development site located at 163 Beach 96th Street in Rockaway Beach, Queens, New York, was recently sold in a closed transaction. The property was listed with an asking price of $1,000,000 and was eventually sold for $1,050,000. The site has a buildable square footage (BSF) of 10,000, with a price per buildable square footage (PBSF) of $105.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,050,000
- Address: 163 Beach 96th Street
- Market: Rockaway Beach / Queens
- City: New York
In this deal, the seller, Steven Danza, sold the property to the buyer, Anthony Murino. The transaction was facilitated by Louis Cotrone from B6 Real Estate.
Players
Far Rockaway 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
15.11%
Cash-on-Cash
-4.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93