Development Site Advisors Represents Sale Of Development Site In Long Island City For $10M
SOLD
$10,000,000
New York
See Similar DealsDevelopment Site
Sold 07/09/2025
SOLD
Development Site Advisors Represents Sale Of Development Site In Long Island City For $10M
3801 Queens Boulevard
See Similar DealsDevelopment Site
Sold 07/09/2025
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
The property asset involved in this transaction is a development site located at 3801 Queens Boulevard in Long Island City. The sale price of the asset was $10,000,000 and comprises a building square footage (BSF) of 45,000, translating to a price per building square foot (PPBSF) of $222.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $10,000,000
- Address: 3801 Queens Boulevard
- Market: Long Island City
- BSF: 45,000
- PPBSF: $222
The deal involved brokers Rubin Isak, Lev Kimyagarov, and Alex Isak, who represent Development Site Advisors in the transaction, facilitating the sale and ensuring a successful agreement between the parties.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$533,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,527.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,405.10
Annual Debt Service$568,861.22
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