Roberto Tolentino Acquires Development Site In Jamaica For $2.45M With Gurpreet Singh & Chip Entwistle
91-31 175th St, Jamaica, NY 11432, USA
$2,450,000
$102/SF
Building Size
24,000 SF
Asset Type
Development Site
Closing
Nov 28, 2020
AI
A development site located at 175-31 Jamaica Avenue in the market of Jamaica, New York, has been sold for $2,450,000. The property spans 24,000 square feet and has an approved buildable square footage. The price per buildable square foot is approximately $102. The site is zoned R6A, R4-1, and C2-4 / DJ.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,450,000
- Square Footage: 24,000 SF
- Zoning: R6A, R4-1, C2-4 / DJ
- Seller: Neriya Borukhov
- Buyer: Roberto Tolentino
- Brokers: Gurpreet Singh - Chip Entwistle
Gurpreet Singh and Chip Entwistle were the brokers involved in facilitating the deal between the seller, Neriya Borukhov, and the buyer, Roberto Tolentino. The transaction represents a significant development opportunity in the Jamaica market.
Players
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
6.47%
Cash-on-Cash
-1.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93