Neel Dvivedi Acquires Development Site In Astoria For $2.4M
SOLD
$2,400,000
New York
See Similar DealsDevelopment Site
Sold 09/09/2022
SOLD
Neel Dvivedi Acquires Development Site In Astoria For $2.4M
31-49 12th Street
See Similar DealsDevelopment Site
Sold 09/09/2022
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
The development site located at 31-49 12th St. in the Astoria market was sold for a total of $2,400,000. The property encompasses a buildable square footage (BSF) of 11,745, resulting in a price per buildable square foot (PPBSF) of $204.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,400,000
- Address: 31-49 12th St.
- Market: Astoria
- Buildable Square Footage: 11,745
- Price Per Buildable Square Foot: $204
- Buyer: Neel Dvivedi
- Seller: Tobias Sienel
- Broker: Evan Daniel - Modern Spaces
Neel Dvivedi acted as the buyer in this transaction, while Tobias Sienel was the seller. The deal was brokered by Evan Daniel representing Modern Spaces, facilitating the exchange between the two parties.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$127,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,526.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,377.22
Annual Debt Service$136,526.69
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