Updated Oct 29, 2024
Ampiera Group Acquires Development Site In Sunnyside For $11M
45-02 Queens Boulevard, Queens, New York 11104, United States
$11,000,000
Building Size
—
Asset Type
Development Site
Closing
Mar 30, 2022
About this deal
AI
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.
On the Map
$11,000,000
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