Simon Vays Acquires Development Site In Long Island City For $4.52M
5007 5th St, Long Island City, NY, USA
$4,520,000
$301/SF
Building Size
15,000 SF
Asset Type
Development Site
Closing
Feb 23, 2021
AI
A development site located at 5007 & 5009 5th St. in Long Island City has been sold for a total price of $4,520,000. The property spans 15,000 square feet and has a price per buildable square foot (PPBSF) of $301.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $4,520,000
- Address: 5007 & 5009 5th St., Long Island City
- Market: Long Island City
- Buyer: Simon Vays
- Seller: Carlos Washington Azeglio & Leonard Romano
The deal was facilitated by Jakub Nowak and Jonathan Eshaghian of The Nowak Group, Marcus & Millichap, and Kegan Burgess of Nest Seekers International.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.51%
Cash-on-Cash
-1.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93