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19-15 Cornaga Ave, Far Rock...

Brisa Builders Acquires Far Rockaway Development Site For $2.5M
SOLDDevelopment Site

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

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.

Players

BB
Brisa BuildersBuyer

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