Giovanni Marmo Acquires Development Site In Long Island City For $1.8M
SOLD
$1,800,000
New York
See Similar DealsDevelopment Site
Sold 11/27/2023
SOLD
Giovanni Marmo Acquires Development Site In Long Island City For $1.8M
37-14 28th Street
See Similar DealsDevelopment Site
Sold 11/27/2023
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
The development site located at 37-14 28th Street in Long Island City has been sold in a closed transaction. The property was sold for a total of $1,800,000. The transaction took place on 11/27/2023.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $1,800,000
- Address: 37-14 28th Street
- Market: Long Island City
The buyer of the development site is Giovanni Marmo, while the seller is Maria Nicaj. The deal was facilitated by Shahriar Alom from The Bouklis Group.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$96,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,395.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,532.92
Annual Debt Service$102,395.02
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