Cape Advisors Acquires Development Site In Astoria For $155.3M
SOLD
$155,324,864
New York
See Similar DealsDevelopment Site
Sold 04/27/2022
SOLD
Cape Advisors Acquires Development Site In Astoria For $155.3M
30-77 Vernon Boulevard, Queens, New York 11101, United States
See Similar DealsDevelopment Site
Sold 04/27/2022
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
The development site located at 30-77 Vernon Boulevard in Astoria has been sold in a closed transaction. The property, featuring 534 units, was purchased by Cape Advisors from the seller, Pioneer Group, on 04/27/2022. The sale price for this transaction was $155,324,864, with a per unit price of $290,870.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $155,324,864
- Address: 30-77 Vernon Boulevard
- Market: Astoria
- Buyer: Cape Advisors
- Seller: Pioneer Group
- Units: 534
- Price Per Unit: $290,870
Leonid Maksimov captured an image of the property, showcasing its features and potential for development. The deal was facilitated by Cape Advisors' representative from their respective agency.
Players
BUYER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,283,992.76
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$551,836.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$736,319.10
Annual Debt Service$8,835,829.18
Is there something missing? Send suggestions