Xi Makmeng Acquires Development Site From Goss Family At 42-40 Crescent Street For $3.7M
SOLD
$3,700,000
New York
See Similar DealsDevelopment Site11,250 SF
Sold 02/26/2026
SOLD
Xi Makmeng Acquires Development Site From Goss Family At 42-40 Crescent Street For $3.7M
42-40 Crescent Street
See Similar DealsDevelopment Site11,250 SF
Sold 02/26/2026
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$328
Total Square Footage:11,250 SF
Transaction Type:Sale
The transaction involves a development site located at 42-40 Crescent Street in Long Island City. The sale price was $3,700,000, and the property has a total square footage of 11,250, resulting in a price per square foot of $328.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,700,000
- Address: 42-40 Crescent Street
- Market: Long Island City
- Square Footage: 11,250
- Price per Square Foot: $328
- Buyer: Xi Makmeng
- Seller: Goss Family
- Broker: Dean Abouelhassan - Landair Advisors
The key individuals involved in this transaction include Xi Makmeng as the buyer and the Goss Family as the seller. Dean Abouelhassan from Landair Advisors represented the transaction as the broker for the sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$197,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,145.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,539.89
Annual Debt Service$210,478.65
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