John Sensei Acquires Dutch Kills Development Site For $7.214M
SOLD
$7,214,000
New York
See Similar DealsDevelopment Site28,875 SF
Sold 02/01/2019
SOLD
John Sensei Acquires Dutch Kills Development Site For $7.214M
36-45 31st St, Dutch Kills, NY, USA
See Similar DealsDevelopment Site28,875 SF
Sold 02/01/2019
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$249
Total Square Footage:28,875 SF
Transaction Type:Sale
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
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$384,746.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,629.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,198.04
Annual Debt Service$410,376.48
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