Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
The property involved in this transaction is a development site located at 42 25 Queens Boulevard in the Sunnyside market. The sale price was set at $6,650,000.00, reflecting the asset's value within the current real estate landscape.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $6,650,000.00
- Address: 42 25 Queens Boulevard
- Market: Sunnyside
- Buyer: Gina Argento
- Seller: Charlie Terrasi
- Brokers: Evan Daniel - Modern Spaces
This transaction involved key participants such as buyer Gina Argento, who acquired the development site, and seller Charlie Terrasi, who divested the property. The deal was facilitated by broker Evan Daniel from Modern Spaces, representing the interests involved in the sale.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$354,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,626.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,524.39
Annual Debt Service$378,292.71
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