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36-26 31st Street, Queens, ...

Updated Sep 9, 2024

Roy Chi Acquires Development Site In Long Island City For $3.5M
SOLDDevelopment Site

Roy Chi Acquires Development Site In Long Island City For $3.5M

36-26 31st Street, Queens, New York 11101, United States

$3,500,000

$259/SF

Building Size

13,500 SF

Asset Type

Development Site

Closing

Oct 26, 2022

About this deal

AI

A development site located at 36-26 31st Street in Long Island City has recently been sold for a price of $3,500,000. The property, which covers a total of 13,500 BSF, was purchased by Roy Chi from the seller Bob Hoover. The sale was facilitated by Landair Property Advisors, with their representative serving as the broker for the transaction.

Summary of transaction details:

Landair Property Advisors played a crucial role in facilitating the transaction, with their representative serving as the broker for the deal. Roy Chi was the buyer who acquired the development site, while Bob Hoover acted as the seller. The sale marks another successful transaction for Landair Property Advisors, cementing their reputation in the market as a reliable and trusted brokerage firm.

It's worth noting that Landair Property Advisors is actively seeking similar deals, as mentioned in their note. They can be contacted through their Queens team, which includes Christopher Daniels, Senior Associate, Jeffrey Ram, Senior Associate, and Alexandre Goulet, Director. Their contact information can be found in the provided note.

Players

Alexandre Goulet

Landair Advisors

Broker

$165.6M

vol

46 deals

Broker

New York Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Deal FAQ

About $259 per square foot on a published $3.5M for 13,500 square feet (2022).

Visit Alexandre (Alex) Goulet to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.53%

Cash-on-Cash

-1.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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