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21-31 Shore Boulevard, Quee...

Poise Property Group Acquires Development Site In Astoria For $4.5M
SOLDDevelopment Site

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:

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

Anthony Lo Verme

Blue Brick Real Estate

Broker

$20.6M

vol

6 deals

Broker
Daniel Kaykov

Daniel Kaykov

Poise Property Group

Buyer

$52.7M

vol

8 deals

Buyer

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