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

Property Image
SOLD
$4,500,000
Anthony Lo Verme
Val Katayev
Daniel Kaykov

New York

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Development Site17,826 SF
Sold 03/02/2022
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Property Image
SOLD

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

21-31 Shore Boulevard, Queens, New York 11105, United States

See Similar Deals
Development Site17,826 SF
Sold 03/02/2022
Anthony Lo Verme
Val Katayev
Daniel Kaykov
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$252
Total Square Footage:17,826 SF
Transaction Type:Sale

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
Anthony Lo Verme
6 deals$20.6M volume
BROKER
Daniel Kaykov
Daniel Kaykov
8 deals$52.7M volume
BUYER
Val Katayev
Val Katayev
5 deals$24.1M volume
BUYER

Details

SOLD
IMAGE: Val Katayev, Daniel Kaykov & Anthony Lo Verme DATE: 03/02/2022 ADDRESS: 21-31 Shore Blvd. MARKET: Astoria ASSET TYPE: Development Site BUYER: Poise Property Group (@PoisePropertyGroup) - Val Katayev (@ValKatayev) & Daniel Kaykov (@Renovation_Group_NYC) SELLER: Roseanne Alafogiannis BROKER: Anthony Lo Verme (@Anthony_Lo_Verme_) - Blue Brick Real Estate (@BlueBrickRealEstate) SALE PRICE: $4,500,000 BSF: 17,826 ~ PPBSF: $252

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

$240,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55