Rubin Isak & Lev Kimyagarov Represent Development Site Advisors In $8.5M Sale In Astoria
SOLD
$8,500,000
New York
See Similar DealsDevelopment Site
Sold 04/25/2025
SOLD
Rubin Isak & Lev Kimyagarov Represent Development Site Advisors In $8.5M Sale In Astoria
26 28 28th Street
See Similar DealsDevelopment Site
Sold 04/25/2025
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
The property asset involved in the transaction is a development site located at 26-28 28th Street in the Astoria market. The sale price for this asset was $8,500,000, with a built square footage of 31,996, resulting in a price per built square foot of $265.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $8,500,000
- Address: 26-28 28th Street
- Market: Astoria
- Built Square Footage: 31,996
- Price Per Built Square Foot: $265
The deal involved Rubin Isak and Lev Kimyagarov, who served as representatives from Development Site Advisors, playing integral roles in facilitating this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$453,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,198.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,294.34
Annual Debt Service$483,532.04
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