Updated Sep 11, 2026
Mr. Linzhong Zhuo Acquires Development Site In New York For $7.4M
2111 31st Ave
$7,400,000
Building Size
—
Asset Type
Development Site
Closing
Jan 12, 2023
About this deal
AI
The development site located at 2111 31st Ave in New York has been sold in a closed transaction. The property, marketed by Angela Kontis, was purchased by Mr. Linzhong Zhuo from Astor Terrace for a sale price of $7,400,000. The development site is a prime asset with great potential for future development.
Summary of Transaction Details:
- Property Type: Development Site
- Transaction Amount: $7,400,000
- Buyer: Mr. Linzhong Zhuo
- Seller: Astor Terrace
- Broker: Angela Kontis
Mr. Linzhong Zhuo successfully acquired the development site at 2111 31st Ave in New York. The deal was facilitated by broker Angela Kontis, who represented both the buyer and the seller in the transaction. With this purchase, Mr. Zhuo has positioned himself to take advantage of the property's future development potential.
On the Map
$7,400,000
Development Site
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Market 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
2.14%
Cash-on-Cash
-0.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93