facebook
Traded Co logo
Submit

Park Construction Corp Acquires Astoria Development Site For $3.96M

Property Image
SOLD
$3,960,000
Alexandre (Alex) Goulet
Anand Melwani
RC

New York

See Similar Deals
Development Site154,800 SF
Sold 11/08/2018
the dealplayerscompscontact
Property Image
SOLD

Park Construction Corp Acquires Astoria Development Site For $3.96M

30-82 Crescent St, Long Island City, NY 11102, USA

See Similar Deals
Development Site154,800 SF
Sold 11/08/2018
Alexandre (Alex) Goulet
Anand Melwani
RC
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$25
Total Square Footage:154,800 SF
Transaction Type:Sale

Anand Melwani and Alex Goulet, real estate brokers from ARM Real Estate Group, represented the buyer and seller in a recent closed property transaction in Astoria, Queens. The development site, located at 30-82 and 30-84 Crescent Street, was sold for $3,960,000. The property has a total buildable square footage of 15,480 and a price per buildable square footage of $255.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $3,960,000
  • Buildable Square Footage: 15,480
  • Price per Buildable Square Footage: $255
  • Address: 30-82 Crescent Street, 30-84 Crescent Street, Astoria, Queens

Robert Cerrone, from Park Construction Corp, purchased the development site from Liam Macdara King (30-82) and Salvatore Chillemi (30-84). Anand Melwani and Alex Goulet, representing ARM Real Estate Group, facilitated the transaction as the buyer and seller's brokers respectively.

Players

Alexandre (Alex) Goulet
Landair Advisors
Alexandre Goulet
44 deals$161.2M volume
BROKER
Anand Melwani
Landair Advisors
Anand Melwani
41 deals$168.7M volume(516) 658-1222
BROKER
Arm Real Estate Group
Arm Real Estate Group
BROKERAGE
RC
Robert Cerrone
3 deals$21.6M volume
BUYER
PC
Park Construction Corp.
BUYER

Details

SOLD
IMAGE: Anand Melwani and Alex Goulet DATE: 11/08/2018 ADDRESS: 30-82 Crescent Street, 30-84 Crescent Street MARKET: Astoria, Queens ASSET TYPE: Development Site SALE PRICE: $3,960,000 BSF: 15,480 PPBSF: $255 SELLER: Liam Macdara King (30-82), Salvatore Chillemi (30-84) BUYER: Robert Cerrone – Park Construction Corp BROKER: ARM Real Estate Group – Anand Melwani & Alex Goulet […]

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

Contact

Get in touch with the broker you want

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
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$211,200.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,069.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,772.42
Annual Debt Service$225,269.04