Raymond Chan Acquires Development Site In New York City For $3.1M
SOLD
$3,100,000
New York
See Similar DealsDevelopment Site4,271 SF
Sold 05/16/2023
SOLD
Raymond Chan Acquires Development Site In New York City For $3.1M
31-12 23rd Ave Queens, NY 11105, USA
See Similar DealsDevelopment Site4,271 SF
Sold 05/16/2023
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$725
Total Square Footage:4,271 SF
Transaction Type:Sale
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.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$165,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,013.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,695.58
Annual Debt Service$176,346.98
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