Updated Oct 28, 2024
Ampiera Group Acquires Development Site In Sunnyside For $11M
45-02 Queens Boulevard
$11,000,000
$215/SF
Building Size
51,000 SF
Asset Type
Development Site
Closing
Mar 30, 2022
About this deal
AI
A development site located at 45-02 Queens Blvd. in Sunnyside has been sold for a total of $11,000,000. The property has a buildable square footage (BSF) of 51,000, resulting in a price per buildable square footage (PPBSF) of $215. The transaction took place on 03/30/2022. The buyer of the property is Ampiera Group, while the seller is the Scouras Family. The deal was facilitated by Matt Fotis of Marcus & Millichap.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $11,000,000
- Address: 45-02 Queens Blvd.
- Market: Sunnyside
- BSF: 51,000
- PPBSF: $215
Matt Fotis of Marcus & Millichap represented the buyer, Ampiera Group, in this transaction. The sale of this development site demonstrates the active real estate market in Sunnyside and the continued interest in investment properties in the area.
On the Map
$11,000,000
$215/SF
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93