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
Long Island City Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
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