Gurpreet Singh Acquires Development Site In Rosedale For $3M
SOLD
$3,000,000
New York
See Similar DealsDevelopment Site24,000 SF
Sold 05/24/2024
SOLD
Gurpreet Singh Acquires Development Site In Rosedale For $3M
240-10 Merrick Boulevard
See Similar DealsDevelopment Site24,000 SF
Sold 05/24/2024
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$125
Total Square Footage:24,000 SF
Transaction Type:Sale
The Development Site located at 240-10 Merrick Boulevard in Rosedale was successfully sold for $3,000,000. Spanning 24,000 square feet, the property was acquired at a price of $125 per square foot.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,000,000
- Buyer: Gurpreet Singh
- Seller: Daniel Cohen
- Brokers: Raj Whadwa & Mani Nagpal - Global Realty Services
- Address: 240-10 Merrick Boulevard
- Market: Rosedale
Raj Whadwa and Mani Nagpal from Global Realty Servicesfacilitated the transaction, representing the buyer and seller respectively.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$160,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37
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