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36-31 31st Street

Aditya Shah And Palwinder Singh Acquire Development Site In Astoria, Queens For $3.4M
SOLDDevelopment Site

Aditya Shah And Palwinder Singh Acquire Development Site In Astoria, Queens For $3.4M

36-31 31st Street

$3,400,000

$197/SF

Building Size

17,214 SF

Asset Type

Development Site

Closing

Aug 8, 2024

AI

This development site is located at 36-31 31st Street in Astoria, Queens. The property was sold for a total of $3,400,000, with a building square footage (BSF) of 17,214 and a price per building square foot (PPBSF) of $197. The total square footage (SF) is also 17,214, maintaining the same price per square foot (PPSF) of $197.

Summary of transaction details:

Aditya Shah and Palwinder Singh were the buyers in this real estate transaction. Debra Deow acted as the seller. The brokers who facilitated the deal were Alexandre Goulet, Dean Abouelhassan, Anand Melwani, and Christopher Daniels from Landair Property Advisors.

Players

Alexandre Goulet

Landair Advisors

Broker

$163.2M

vol

45 deals

Broker

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

4.67%

Cash-on-Cash

-1.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93