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:
- Property Type: Development Site
- Transaction Amount: $1,560,000
- Address: 31-42 38th Street
- Market: Astoria
- Total Building Square Footage: 5,000
- Price Per Building Square Foot: $312
- Buyer: Jan Serafin
- Seller: Ekrem Redzematovic
- Brokers: Alexandre Goulet, Christopher Daniels & Anand Melwani - Landair Property Advisors
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
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