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
Market Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
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