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

Property Image
SOLD
$4,325,000
Josh Orlander
GV

New York

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Development Site22,788 SF
Sold
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Property Image
SOLD

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

21 02 21st Street

See Similar Deals
Development Site22,788 SF
Sold
Josh Orlander
GV
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$189
Total Square Footage:22788 SF
Transaction Type:Sale

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
Josh Orlander
10 deals$98.9M volume
BROKER
GFI Realty Services
GFI Realty Services
BROKERAGE
GV
Gennaro Vendome
4 deals$52.9M volume
SELLER

Details

SOLD
IMAGE: 02/28/2018 ADDRESS: 21 02 21st Street MARKET: Astoria ASSET TYPE: Development Site BROKERS: Josh Orlander(GFI Realty Services), Joseph Landau() BUYER: David Shenfield(DA Development), Cheski Weiss(CW Capital), and Yossie Banda(DA Development) SELLER: Gennaro Vendome PRICE: $4,325,000.00 SF: 22788.0

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$230,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,365.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,502.71
Annual Debt Service$246,032.48