Jin Wang Acquires Development Site In Flushing/Queens For $13.6M
SOLD
$13,600,000
New York
See Similar DealsDevelopment Site23,036 SF
Sold 07/22/2019
SOLD
Jin Wang Acquires Development Site In Flushing/Queens For $13.6M
44-15 College Point Blvd, Queens, NY 11355, USA
See Similar DealsDevelopment Site23,036 SF
Sold 07/22/2019
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$590
Total Square Footage:23,036 SF
Transaction Type:Sale
A development site located at 44-15 College Point Boulevard in Flushing/Queens has been sold for $13,600,000. The property, owned by the Kanes Family, was purchased by Jin Wang. The site spans 23,036 square feet and has a price per square foot of $590. The transaction was facilitated by brokers Theo Kontis and Vincenzo Amato from @TEKRA_NY.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $13,600,000
- Address: 44-15 College Point Boulevard, Flushing/Queens
- Market: Flushing/Queens
- BSF: 23,036
- PPBSF: $590
Theo Kontis and Vincenzo Amato acted as the brokers in this transaction, representing the buyers and sellers respectively. They played a crucial role in facilitating the deal between the Kanes Family and Jin Wang.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$725,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$48,317.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$64,470.94
Annual Debt Service$773,651.26
Is there something missing? Send suggestions