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28-08 21st Street

Updated Dec 4, 2024

 Acquires Development Site In Astoria For $4.05M
SOLDDevelopment Site

Acquires Development Site In Astoria For $4.05M

28-08 21st Street & 28-10 21st Street

$4,050,000

Building Size

Asset Type

Development Site

Closing

Oct 25, 2023

About this deal

AI

Astoria's property market recently saw the sale of two adjacent development sites located at 28-08 & 28-10 21st Street. The properties, measuring 25' x 100' each, were successfully sold by their respective owners, Mike Saab and Jenny Sidiroglou, to . The transaction was facilitated by Alexandre Goulet of Landair Property Advisors. The combined sale price for both sites amounted to $4,050,000, representing a significant value increase for the sellers.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $4,050,000
  • Address: 28-08 & 28-10 21st Street, Astoria
  • Market: Astoria

Alexandre Goulet, representing Landair Property Advisors, played a pivotal role in orchestrating this transaction. Bringing together two separate owners to sell their sites to a single buyer not only streamlined the process but also resulted in increased value for both sellers. Goulet's expertise and negotiation skills were instrumental in ensuring a successful deal for all parties involved. For future collaboration and assistance with real estate transactions, you can contact Landair Property Advisors at (646) 559-4700.

Players

Alexandre Goulet

Landair Advisors

Broker

$165.6M

vol

46 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

3.92%

Cash-on-Cash

-1.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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