Updated Oct 29, 2024
United Construction And Development Acquires Development Site In Woodside, Queens For $5.5M
39-53 57th Street, Woodside, Queens County, NY, USA
$5,500,000
$203/SF
Building Size
27,000 SF
Asset Type
Development Site
Closing
Mar 9, 2021
About this deal
AI
A development site located at 39-53 57th Street in Woodside, Queens, has been sold for $5,500,000. The property, with a lot size of 100 ft x 200 ft (20,000 SF), is a development site with a zoning designation of R5B. The transaction took place on March 10, 2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,500,000
- Address: 39-53 57th Street
- Market: Woodside, Queens
- Lot Size: 100 ft x 200 ft (20,000 SF)
- Zoning: R5B
The buyer in this transaction is Chris Xu, representing United Construction and Development. The deal was facilitated by the brokers Stephen R. Preuss, Kevin Schmitz, and Andreas Efthymiou from Cushman & Wakefield, who represented the buyer.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93