Rubin Isak & Lev Kimyagarov Sell Astoria Development Site For $21M
SOLD
$21,000,000
New York
See Similar DealsDevelopment Site
Sold 10/27/2023
SOLD
Rubin Isak & Lev Kimyagarov Sell Astoria Development Site For $21M
Development Site
Sold 10/27/2023
Summary
Asset Type:Development Site
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,120,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$74,608.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$99,550.71
Annual Debt Service$1,194,608.56
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