Ampiera Group Acquires Development Site In Sunnyside For $11M
SOLD
$11,000,000
New York
See Similar DealsDevelopment Site
Sold 03/30/2022
SOLD
Ampiera Group Acquires Development Site In Sunnyside For $11M
45-02 Queens Boulevard, Queens, New York 11104, United States
See Similar DealsDevelopment Site
Sold 03/30/2022
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
A development site located at 4502 Queens Blvd. in Sunnyside has been sold for $11,000,000. The property spans 51,000 square feet and is being bought by Ampiera Group from the Scouras Family. The transaction was facilitated by broker Paul Youssef. The price per buildable square foot (PPBSF) is approximately $215.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $11,000,000
- Address: 4502 Queens Blvd.
- Market: Sunnyside
- Buyer: Ampiera Group
- Seller: Scouras Family
- Broker: Paul Youssef
- BSF: 51,000
- PPBSF: $215
The sale of the development site was brokered by Paul Youssef. The Ampiera Group is the buyer, while the Scouras Family is the seller. This transaction represents a significant investment opportunity in the Sunnyside market.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,080.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,145.61
Annual Debt Service$625,747.34
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