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21 02 21st Street

David Shenfield, Cheski Weiss, Yossie Banda Acquire Development Site In Astoria For $4.325M
SOLDDevelopment Site

David Shenfield, Cheski Weiss, Yossie Banda Acquire Development Site In Astoria For $4.325M

21 02 21st Street

$4,325,000

$189/SF

Building Size

22,788 SF

Asset Type

Development Site

Closing

Feb 28, 2018

AI

The transaction involved a development site located at 21 02 21st Street in Astoria. The sale was finalized on February 28, 2018, with a price of $4,325,000. The asset spans a total of 22,788 square feet.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $4,325,000.00
  • Address: 21 02 21st Street
  • Market: Astoria
  • Square Footage: 22,788.0
  • Buyer: David Shenfield (DA Development), Cheski Weiss (CW Capital), and Yossie Banda (DA Development)
  • Seller: Gennaro Vendome
  • Brokers: Josh Orlander (GFI Realty Services), Joseph Landau

The key participants in this transaction included David Shenfield and Yossie Banda, both representing DA Development, alongside Cheski Weiss from CW Capital. Gennaro Vendome served as the seller, while Josh Orlander from GFI Realty Services was the broker representing the buyer in this deal.

Players

Josh Orlander

GFI Realty Services

Broker

$98.9M

vol

10 deals

Broker

David Shenfield

DA Development

Buyer
Buyer

Gennaro Vendome

Seller

$52.9M

vol

4 deals

Seller

Astoria 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

3.67%

Cash-on-Cash

-1.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93