Updated Dec 21, 2023
Riva Mushiyeva Acquires Development Site In Queens Village For $2.85M
21480 Jamaica Avenue, Queens Village, NY, USA
$2,850,000
$142/SF
Building Size
19,976 SF
Asset Type
Development Site
Closing
Nov 23, 2021
About this deal
AI
A development site located at 21480-21502 Jamaica Avenue in Queens Village has been sold for a price of $2,850,000. The property, spanning approximately 19,976 square feet, was acquired by Riva Mushiyeva from the seller, Frank Festa. The transaction was facilitated by brokers Stephen R. Preuss Sr. & Andreas Efthymiou.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $2,850,000
- Address: 21480-21502 Jamaica Avenue, Queens Village
- Market: Queens Village
- Buyer: Riva Mushiyeva
- Seller: Frank Festa
- Brokers: Stephen R. Preuss Sr. & Andreas Efthymiou
- BSF: 19,976
- PPBSF: $142
The successful sale of this development site demonstrates the thriving real estate market in Queens Village. Riva Mushiyeva seized the opportunity to acquire this valuable asset, supported by brokers Stephen R. Preuss Sr. & Andreas Efthymiou. The transaction further signifies the strong demand for development sites in the area.
Players
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
5.57%
Cash-on-Cash
-1.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93