Updated Dec 21, 2023
Hang Dong Zhang Acquires Development Site In Long Island City/Queens For $8.15M
23-8 Jackson Ave, Long Island City, NY 11101, USA
$8,150,000
$40/SF
Building Size
203,480 SF
Asset Type
Development Site
Closing
Jun 11, 2019
About this deal
AI
A development site located at 23-08 Jackson Avenue in the Long Island City/Queens market has been sold in a closed transaction. The property spans 20,348 square feet and was sold for a sale price of $8,150,000, with an asking price of $8,950,000. The price per square foot for the transaction was $236.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $8,150,000
- Street Address: 23-08 Jackson Avenue
- Market: Long Island City/Queens
Gus Kodogiannis was the seller of the development site, while the buyer was Hang Dong Zhang. The transaction was facilitated by brokers Shaun Riney, Mike Salvatico, Dylan Walsh, Scott Plasky, and Billy Stephan, who are part of the Marcus and [Agency] brokerage.
On the Map
$8,150,000
$40/SF
Development Site
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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
1.95%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93