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Shunqian Liu's Unionstone Development LLC Purchases Development Site At 30-75 21st Street For $10.4M
SOLD
$10,400,000
New York
See Similar DealsDevelopment Site
Sold 11/24/2025
SOLD
Shunqian Liu's Unionstone Development LLC Purchases Development Site At 30-75 21st Street For $10.4M
30 75 21st Street
See Similar DealsDevelopment Site
Sold 11/24/2025
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
A development site located at 30-75 21st Street in Astoria, Queens, has been sold for a price of $10,400,000. The property boasts a total of 40,000 square feet, resulting in a price per square foot of $260.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $10,400,000
- Buyer: Shunqian Liu
- Seller: Janos Kanta & Gloria Kellarakos
- Asset Address: 30-75 21st Street, Astoria, Queens
- Building Square Feet: 40,000
- Price Per Building Square Foot: $260
Shunqian Liu, operating through Unionstone Development LLC, acquired the development site from Janos Kanta and Gloria Kellarakos, who were represented by 3075 21st Street LLC. The transaction is set to pave the way for ground-up development on the site.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$554,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$36,949.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$49,301.31
Annual Debt Service$591,615.67
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