Updated Dec 20, 2023
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
About this deal
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.
On the Map
$1,025,000
$59/SF
Development Site
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Players
Queens 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
15.48%
Cash-on-Cash
-4.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93