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32-45 37th Street

Jimmy Yang Acquires Development Site In Astoria For $1,970,000 From Mike Marziliano
SOLDDevelopment Site

Jimmy Yang Acquires Development Site In Astoria For $1,970,000 From Mike Marziliano

32-45 37th Street

$1,970,000

$684/SF

Building Size

2,880 SF

Asset Type

Development Site

Closing

Jun 29, 2026

AI

The asset involved in this transaction is a development site located at 32-45 37th Street in Astoria. The sale price for this property was $1,970,000, with a building square footage (BSF) of 7,500 and a price per building square foot (PPBSF) of $263. Additionally, the property has a square footage (SF) of 2,880 and a price per square foot (PPSF) of $684.

Summary of transaction details:

This transaction features participation from Jimmy Yang as the buyer, while Mike Marziliano served as the seller. The brokerage firm Amorelli Realty was represented by Nicholas Halvatzis and Orly Sroka, who facilitated this real estate transaction.

Players

Nicholas Halvatzis

Amorelli Realty

Broker

$28.9M

vol

9 deals

Broker

Jimmy Yang

Buyer

$2M

vol

1 deal

Buyer

Mike Marziliano

Seller

$2M

vol

1 deal

Seller

Market 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

8.05%

Cash-on-Cash

-2.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93