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23-57 31st Avenue

Perry Notias Acquires Development Site In Astoria, Queens For $3.9M
SOLDDevelopment Site

Perry Notias Acquires Development Site In Astoria, Queens For $3.9M

23-57 31st Avenue

$3,900,000

Building Size

Asset Type

Development Site

Closing

Oct 13, 2023

AI

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:

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.

Players

Alexandre Goulet

Landair Advisors

Broker

$163.2M

vol

45 deals

Broker

Astoria 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

4.07%

Cash-on-Cash

-1.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93