Updated Oct 28, 2024
Vorea Group Acquires Development Site In Long Island City, Queens For $4.7M
5-36 50th Avenue, Queens, New York 11101, United States
$4,700,000
Building Size
—
Asset Type
Development Site
Closing
Jul 27, 2022
About this deal
AI
A development site located at 5-36 50th Avenue in Long Island City, Queens, has been sold for a total price of $4,700,000. The transaction took place on July 28, 2022, and the seller was Lawrence T. Dolin.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $4,700,000
- Address: 5-36 50th Avenue, Long Island City, Queens
- Market: Long Island City, Queens
The buyer in this transaction was Vorea Group, represented by Peter Papamichael. Lawrence T. Dolin acted as the seller in the deal.
New York 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
3.38%
Cash-on-Cash
-0.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93