facebook
Traded Co logo
Submit

Renovation Group Acquires Development Site In Hunter's Point For $3.6M

Property Image
SOLD
$3,600,000
Donal Flaherty
Derek Bestreich

New York

See Similar Deals
Development Site6,000 SF
Sold 02/22/2024
the dealplayerscompscontact
Property Image
SOLD

Renovation Group Acquires Development Site In Hunter's Point For $3.6M

51-09 2nd Street

See Similar Deals
Development Site6,000 SF
Sold 02/22/2024
Donal Flaherty
Derek Bestreich
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$600
Total Square Footage:6,000 SF
Transaction Type:Sale

The property located at 51-09 2nd Street in Hunter's Point, Queens, was sold as a Development Site for $3,600,000. The site spans 6,000 square feet with a price per square foot of $600 and a buildable square footage of 12,000 with a per buildable square foot price of $300.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $3,600,000
  • Buyer: Yossi Zarfati & Daniel Kaykov - Renovation Group
  • Seller: Ed Monaco
  • Brokers: Derek Bestreich, Donal Flaherty & Tom Reynolds - Investment Property Realty Group

The deal was facilitated by brokers Derek Bestreich, Donal Flaherty, and Tom Reynolds from Investment Property Realty Group. Yossi Zarfati and Daniel Kaykov, representing the Renovation Group, purchased the property from Ed Monaco in this transaction.

Players

Derek Bestreich
Investment Property Realty Group (IPRG)
Derek Bestreich
312 deals$1.1B volume(718) 360-8802
BROKER
Donal Flaherty
Investment Property Realty Group (IPRG)
Donal Flaherty
101 deals$367.7M volume(718) 360-8823
BROKER

Details

SOLD
IMAGE: Yossi Zarfati, Daniel Kaykov, Donal Flaherty & Tom Reynolds DATE: 02/22/2024 ADDRESS: 51-09 2nd Street MARKET: Hunter's Point, Queens ASSET TYPE: Development Site BUYER: Yossi Zarfati & Daniel Kaykov - Renovation Group (@Renovation_Group_NYC) SELLER: Ed Monaco BROKERS: Derek Bestreich, Donal Flaherty (@DonalFlaherty1) & Tom Reynolds (@TomReynolds_CRE) - Investment Property Realty Group (@IPRG_NY) SALE PRICE: $3,600,000 SF: 6,000 ~ PPSF: $600 BSF: 12,000 ~ PPBSF: $300

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$192,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,790.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,065.84
Annual Debt Service$204,790.04