Updated Dec 21, 2023
The Patel Family Acquires Development Site In Corona, Queens For $2.57M
33 Junction Boulevard, Queens, New York 11368, United States
$2,575,000
$157/SF
Building Size
16,308 SF
Asset Type
Development Site
Closing
May 22, 2022
About this deal
AI
A development site located at 33-25-27 Junction Blvd. in Corona, Queens was recently sold for a price of $2,575,000. The property spans a total of 16,308 square feet, resulting in a price per square foot of $157. The sale took place on May 23, 2022, and the transaction was facilitated by Marcus & Millichap.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,575,000
- Address: 33-25-27 Junction Blvd.
- Market: Corona, Queens
- BSF: 16,308
- PPBSF: $157
The buyer of the property is The Patel Family, while the seller is Nick Girardi. The deal was negotiated by Shaun Riney, Michael Salvatico, and Sean Fopeano, who represent Marcus & Millichap.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Visit Sean Fopeano to view all their deals.
Browse New York development site sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.16%
Cash-on-Cash
-1.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93