Updated Sep 9, 2024
John Sensei Acquires Dutch Kills Development Site For $7.214M
36-45 31st St, Dutch Kills, NY, USA
$7,214,000
$249/SF
Building Size
28,875 SF
Asset Type
Development Site
Closing
Jan 31, 2019
About this deal
AI
A development site located at 36-43 - 36-45 31st St. in the Dutch Kills neighborhood has been sold for a total of $7.214 million. The property is zoned M1-2/R6A and has a total square footage of 28,875, resulting in a price per square foot of $249. The sale took place on February 1, 2019.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $7.214 million
- Address: 36-43 - 36-45 31st St.
- Market: Dutch Kills
- BSF: 28,875
- PPBSF: $249
- Zoning: M1-2/R6A
The seller of the property was the Estate of Ralph Onorato, while the buyer was John Sensei. The deal was facilitated by two brokers, Anand Melwani & Alexandre Goulet from ARM RE Group and Sarah Katz-Worley from Pleasant Properties.
Players
Astoria Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.20%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93