Updated Sep 5, 2024
Neel Dvivedi Acquires Development Site In Astoria, Queens For $5.8M
30-33 29th Street
$5,775,000
$770/SF
Building Size
7,500 SF
Asset Type
Development Site
Closing
Oct 3, 2022
About this deal
AI
The development site located at 30-33 29th St in Astoria, Queens has been sold in a closed transaction. The property spans 7,500 square feet and was acquired for a price of $5,775,000, resulting in a price per square foot of $770. The site has a buildable square footage of 22,647, with a price per buildable square foot of $255.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $5,775,000
- Address: 30-33 29th St, Astoria, Queens
- Market: Astoria, Queens
- Square Footage: 7,500
- Price per Square Foot: $770
- Buildable Square Footage: 22,647
- Price per Buildable Square Foot: $255
The buyer of the property is Neel Dvivedi, and the seller is The Schatz Family. Marcus & Millichap's agents Shaun Riney, Sean Fopeano, and Louis Zarif, along with Modern Spaces NY's agents Jeremy Ruiz and Greg Kyroglou, represented the buyer and seller in the transaction.
On the Map
$5,775,000
$770/SF
Development Site
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Players
New York 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
2.75%
Cash-on-Cash
-0.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93