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37-11 Crescent Street

Development Site In Long Island City, Queens Sold For $2.64M With Rubin Isak & Lev Kimyagarov As Brokers
SOLDDevelopment Site

Development Site In Long Island City, Queens Sold For $2.64M With Rubin Isak & Lev Kimyagarov As Brokers

37-11 Crescent Street

$2,640,000

$538/SF

Building Size

4,907 SF

Asset Type

Development Site

Closing

Dec 6, 2023

AI

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.

Players

Rubin Isak
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Rubin Isak

Development Site Advisors

Broker

$231.8M

vol

23 deals

Broker

Long Island City 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

6.01%

Cash-on-Cash

-1.72%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93