Poise Property Group Acquires Development Site In Astoria For $4.5M
21-31 Shore Boulevard, Queens, New York 11105, United States
$4,500,000
$252/SF
Building Size
17,826 SF
Asset Type
Development Site
Closing
Mar 1, 2022
AI
A development site located at 21-31 Shore Blvd. in Astoria has been sold for a price of $4,500,000. The property was purchased by Poise Property Group, represented by Val Katayev and Daniel Kaykov. The seller of the development site was Roseanne Alafogiannis. The transaction was facilitated by Anthony Lo Verme of Blue Brick Real Estate.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,500,000
- Buyer: Poise Property Group - Val Katayev & Daniel Kaykov
- Seller: Roseanne Alafogiannis
- Broker: Anthony Lo Verme - Blue Brick Real Estate
Val Katayev and Daniel Kaykov represented Poise Property Group in the purchase of the development site located at 21-31 Shore Blvd. in Astoria. On the other side, Roseanne Alafogiannis served as the seller. The transaction was successfully closed with the assistance of Anthony Lo Verme from Blue Brick Real Estate.
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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93