Raymond Chan Acquires Development Site In New York City For $3.1M
31-12 23rd Ave Queens, NY 11105, USA
$3,100,000
$725/SF
Building Size
4,271 SF
Asset Type
Development Site
Closing
May 16, 2023
AI
A development site located at 31-12 23rd Avenue in New York City has been sold in a recent transaction. The property spans 4,271 square feet and was sold for a total price of $3,100,000. The price per square foot for the sale is $726.
Summary of transaction details
- Property Type: Development Site
- Sale Price: $3,100,000
- Square Footage: 4,271
- Price per Square Foot: $726
- Address: 31-12 23rd Avenue
- Market: New York City
The buyer of the development site is Raymond Chan, while the seller is Antonio Bonfigli. The transaction was facilitated by broker Anthony Lo Verme from Blue Brick Real Estate.
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
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93