Updated May 19, 2026
Development Site Advisors Facilitates $31 Million Sale Of Development Site In Astoria
47-01 Northern Boulevard
$31,000,000
$1,369/SF
Building Size
22,630 SF
Asset Type
Development Site
Closing
May 12, 2026
About this deal
AI
The property asset involved in this transaction is located at 47-01 Northern Boulevard in the Astoria market. The sale price for this development site was $31,000,000, with a built square footage (BSF) of 149,856, resulting in a price per built square foot (PPBSF) of $206. The total square footage (SF) is 22,630, equating to a price per square foot (PPSF) of $1,369.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $31,000,000
- Address: 47-01 Northern Boulevard
- Market: Astoria
- BSF: 149,856
- PPBSF: $206
- SF: 22,630
- PPSF: $1,369
Rubin Isak from Development Site Advisors represented the transaction, providing insights into how brokers can focus on relationships and closings while leveraging their expertise in handling back-office operations.
Long Island City Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93