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2101-2119 31st Street

Rubin Isak & Lev Kimyagarov Sell Astoria Development Site For $21M
SOLDDevelopment Site

Rubin Isak & Lev Kimyagarov Sell Astoria Development Site For $21M

$21,000,000

Building Size

Asset Type

Development Site

Closing

Oct 27, 2023

AI

The development site located at 2101-2119 31st Street in Astoria, Queens, has been sold for a price of $21,000,000. Spanning over a ZFA (Zoning Floor Area) of 65,417, the site has a price per zoning floor area (PPZFA) of $321. This transaction was facilitated by Rubin Isak and Lev Kimyagarov, who served as the development site advisors.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $21,000,000
  • Address: 2101-2119 31st Street, Astoria, Queens
  • Market: Astoria, Queens
  • ZFA: 65,417
  • PPZFA: $321
  • BROKERS: Rubin Isak & Lev Kimyagarov - Development Site Advisors

Rubin Isak and Lev Kimyagarov played significant roles in the successful completion of the transaction. These key individuals utilized their expertise as development site advisors to ensure a smooth and favorable deal for all parties involved.

Players

Rubin Isak
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Rubin Isak

Development Site Advisors

Broker

$231.8M

vol

23 deals

Broker

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

0.76%

Cash-on-Cash

-0.22%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93