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18-63 Starr Street, Ridgewo...

Antonio Mastronardi Acquires Development Site In Ridgewood, Queens For $1.3M
SOLDDevelopment Site

Antonio Mastronardi Acquires Development Site In Ridgewood, Queens For $1.3M

18-63 Starr Street, Ridgewood, NY, USA

$1,300,000

$220/SF

Building Size

5,900 SF

Asset Type

Development Site

Closing

Jul 22, 2020

AI

A development site located at 18-63 Starr Street in Ridgewood, Queens has been sold for a price of $1,300,000. The property, which has a lot dimension of 25 ft x 100.92 ft, is a development site with a zoning of R6B. The transaction took place on July 22, 2021, with Dorit Pinhas & Jonathan Berman from Ariel Property Advisors representing the buyer, Antonio Mastronardi, and the seller, Arkadiy Nagorev.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $1,300,000
  • Address: 18-63 Starr Street, Ridgewood, Queens
  • Lot Dimensions: 25 ft x 100.92 ft
  • Market: Ridgewood, Queens
  • Zoning: R6B

The buyer, Antonio Mastronardi, acquired the development site from the seller, Arkadiy Nagorev. The transaction was facilitated by Dorit Pinhas & Jonathan Berman from Ariel Property Advisors. The development site has a buildable square footage (BSF) of 5,900 and a price per buildable square footage (PPBSF) of $220.

Players

Jonathan Berman

Ariel Property Advisors

Broker

$12.7M

vol

6 deals

Broker

Arkadiy Nagorev

Seller

$3.8M

vol

3 deals

Seller

New York 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

12.20%

Cash-on-Cash

-3.49%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93