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.
On the Map
$4,700,000
Development Site
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New York Development Site Market Snapshot
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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