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166-11 91st Avenue, Jamaica...

Simranjeet Singh Acquires Development Site In Jamaica, Queens For $1,025,000
SOLDDevelopment Site

Simranjeet Singh Acquires Development Site In Jamaica, Queens For $1,025,000

166-11 91st Avenue, Jamaica, Queens County, NY, USA

$1,025,000

$59/SF

Building Size

17,380 SF

Asset Type

Development Site

Closing

Mar 9, 2021

AI

A development site located at 166-11 91st Avenue in Jamaica, Queens was recently sold for a price of $1,025,000. The property, which is marked as a development site, spans a total of 17,380 square feet. The buyer in this transaction was Simranjeet Singh, while the seller was the Estate of Ruth Andrade. The deal was facilitated by the broker team of Stephen R. Preuss, Kevin Schmitz, and Charlie DuPont from Cushman & Wakefield.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $1,025,000
  • Address: 166-11 91st Avenue
  • Market: Jamaica, Queens
  • Buyer: Simranjeet Singh
  • Seller: Estate of Ruth Andrade
  • Brokers: Stephen R. Preuss, Kevin Schmitz & Charlie DuPont - Cushman & Wakefield

The purchase of this development site in Jamaica, Queens was completed on 03/10/2021. The acquisition was led by Simranjeet Singh, representing the buyer, and the Estate of Ruth Andrade, representing the seller. The transaction was handled by the broker team of Stephen R. Preuss, Kevin Schmitz, and Charlie DuPont from Cushman & Wakefield.

Players

Charlie Dupont

Ripco

Broker

$19.7M

vol

7 deals

Broker

Simranjeet Singh

Buyer

$4.4M

vol

2 deals

Buyer

New York Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

15.48%

Cash-on-Cash

-4.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93