Updated Oct 29, 2024
Brisa Builders Acquires Far Rockaway Development Site For $2.5M
19-15 Cornaga Ave, Far Rockaway, NY 11691, USA
$2,500,000
$67/SF
Building Size
37,043 SF
Asset Type
Development Site
Closing
Apr 23, 2020
About this deal
AI
Located in Far Rockaway, the development site at 19-19 Cornaga Avenue and 19-15 Cornaga Avenue has been sold in a closed property transaction. The buyer, Brisa Builders represented by Ericka Keller, acquired the property from seller David Dery. The transaction was completed on 04/24/2020.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $2,500,000
- Building Square Footage: 37,043
- Price per Square Foot: $67
- Address: 19-19 Cornaga Avenue, 19-15 Cornaga Avenue
- Market: Far Rockaway
Ericka Keller, representing Brisa Builders, played a significant role in finalizing the deal. The involvement of these key individuals and companies highlights their contributions to the successful transaction.
On the Map
$2,500,000
$67/SF
Development Site
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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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93