Yi Hua Acquires Development Site In Flushing, Queens For $37.5M
25-38 Parsons Blvd, Flushing, NY 11354, USA
$37,500,000
$22/SF
Building Size
1,693,030 SF
Asset Type
Development Site
Closing
Dec 15, 2019
AI
A development site located at 38-02 Parsons Blvd in Flushing, Queens has been sold for a total price of $37,500,000. The property spans a total of 169,303 square feet with a price per buildable square foot (PPBSF) of $222. The transaction took place on December 16, 2019.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $37,500,000
- Address: 38-02 Parsons Blvd, Flushing, Queens
- Market: Flushing, Queens
The seller of the development site was Temple Gates of Prayer, while the buyer was Yi Hua. The broker representing the deal was Stephen R. Preuss.
Players
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
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93