Perry Notias Acquires Development Site In Astoria, Queens For $3.9M
SOLD
$3,900,000
New York
See Similar DealsDevelopment Site
Sold 10/13/2023
SOLD
Perry Notias Acquires Development Site In Astoria, Queens For $3.9M
23-57 31st Avenue
See Similar DealsDevelopment Site
Sold 10/13/2023
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
The property involved in this transaction is a development site located at 23-57 31st Avenue in Astoria, Queens. It was sold for a price of $3,900,000. The property has a buildable square footage (BSF) of 14,539, resulting in a price per buildable square footage (PPBSF) of $268.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,900,000
- Address: 23-57 31st Avenue, Astoria, Queens
- Market: Astoria, Queens
- Buyer: Perry Notias
- Seller: Mary D'Alessandro
- Brokers: Alexandre Goulet & Christopher Daniels - Landair Property Advisors
Perry Notias acted as the buyer in this transaction, while Mary D'Alessandro served as the seller. Alexandre Goulet and Christopher Daniels, representing Landair Property Advisors, acted as the brokers facilitating the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$208,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,487.99
Annual Debt Service$221,855.88
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