Development Site In Long Island City, Queens Sold For $2.64M With Rubin Isak & Lev Kimyagarov As Brokers
SOLD
$2,640,000
New York
See Similar DealsDevelopment Site4,907 SF
Sold 12/06/2023
SOLD
Development Site In Long Island City, Queens Sold For $2.64M With Rubin Isak & Lev Kimyagarov As Brokers
37-11 Crescent Street
See Similar DealsDevelopment Site4,907 SF
Sold 12/06/2023
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$538
Total Square Footage:4,907 SF
Transaction Type:Sale
A development site located at 37-11 Crescent Street in Long Island City, Queens has been sold in a recent transaction. The sale price for this property was $2,640,000. The site measures approximately 4,907 square feet, resulting in a price per square foot of $538. The total zoning floor area is 10,899 square feet, equating to a price per zoning floor area of $242.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,640,000
- Address: 37-11 Crescent Street
- Market: Long Island City, Queens
The sale of this development site was facilitated by Rubin Isak and Lev Kimyagarov from Development Site Advisors. They represented the parties involved in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$140,800.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,379.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,514.95
Annual Debt Service$150,179.36
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