Simon Vays Acquires Development Site In Long Island City For $4.52M
SOLD
$4,520,000
New York
See Similar DealsDevelopment Site15,000 SF
Sold
SOLD
Simon Vays Acquires Development Site In Long Island City For $4.52M
5007 5th St, Long Island City, NY, USA
See Similar DealsDevelopment Site15,000 SF
Sold
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$301
Total Square Footage:15000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$241,066.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,058.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,427.11
Annual Debt Service$257,125.27
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