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31-42 38th Street

Jan Serafin Acquires Development Site In Astoria For $1.56M Represented By Landair Property Advisors
SOLDDevelopment Site

Jan Serafin Acquires Development Site In Astoria For $1.56M Represented By Landair Property Advisors

31-42 38th Street

$1,560,000

Building Size

Asset Type

Development Site

Closing

Dec 20, 2024

AI

The asset involved in the transaction is a development site located at 31-42 38th Street in Astoria. The site was sold for a transaction amount of $1,560,000, with a total building square footage of 5,000 and a price per building square foot of $312.

Summary of transaction details:

Key individuals in the transaction include buyer Jan Serafin and seller Ekrem Redzematovic, who facilitated the deal through the brokerage of Alexandre Goulet, Christopher Daniels, and Anand Melwani from Landair Property Advisors.

Players

Alexandre Goulet

Landair Advisors

Broker

$163.2M

vol

45 deals

Broker

Astoria 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

10.17%

Cash-on-Cash

-2.91%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93