Updated Dec 21, 2023
Rubin Isak, Lev Kimyagarov & John Penaloza Sell Astoria Development Site For $4.75M
25-23 Newtown Avenue, Queens, New York 11102, United States
$4,750,000
$1,819/SF
Building Size
2,610 SF
Asset Type
Development Site
Closing
Sep 8, 2022
About this deal
AI
A development site located at 25-23 Newtown Ave. in Astoria has been sold for $4,750,000. The property spans 2,610 square feet, resulting in a price per square foot of $1,819.
Summary of transaction details:
- Property Type: Development site
- Transaction Amount: $4,750,000
- Address: 25-23 Newtown Ave.
- Market: Astoria
- Square Footage: 2,610
The deal was facilitated by Rubin Isak, Lev Kimyagarov, and John Penaloza of Development Site Advisors - a leading brokerage company specializing in development sites.
Development Site Advisors® is currently expanding their team and welcomes agents interested in working with development sites. They offer unparalleled support, mentorship, tools, and training. To learn more about joining this exciting company and brand, reach out to @levkimyagarov, @rubinisak, or @developmentsiteadvisors.
Players
New York Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.34%
Cash-on-Cash
-0.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93