Richard L'Esperance & Nicholas Notias Acquires Development Site In Astoria For $3.7M
SOLD
$3,700,000
New York
See Similar DealsDevelopment Site5,200 SF
Sold 05/15/2023
SOLD
Richard L'Esperance & Nicholas Notias Acquires Development Site In Astoria For $3.7M
27 11 30th Ave. Queens, Ny 11102, Usa
See Similar DealsDevelopment Site5,200 SF
Sold 05/15/2023
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$711
Total Square Footage:5,200 SF
Transaction Type:Sale
A development site located at 27-11 30th Avenue in Astoria, has been sold for a price of $3,700,000. The property spans over an area of 5,200 square feet, resulting in a price per square foot of $712. The transaction took place on 05/15/2023.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,700,000
- Address: 27-11 30th Avenue, Astoria
- Square Footage: 5,200
- Price Per Square Foot: $712
- Market: Astoria
The buyers involved in this transaction are Richard L'Esperance and Nicholas Notias. They acquired the development site from the sellers, Sal Restivo and Charlie Restivo. The buyer's representative, Anthony Lo Verme, from Blue Brick Real Estate, and the seller's representative, Paul Milonakis, from Halvatzis Realty, facilitated the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$197,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,145.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,539.89
Annual Debt Service$210,478.65
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