Updated Sep 5, 2024
Giuseppe Malatesta Acquires Dev Site In Corona, Flushing For $1.75M
56-10 Van Cleef St, Queens, NY 11368, USA
Building Size
3,375 SF
Asset Type
Development Site
Closing
Jun 13, 2018
About this deal
AI
A development site located at 56-10 Van Cleef Street in Corona, Flushing, New York has been sold for $1,750,000. The property, situated in a prime location in Corona, Flushing, offers great potential for development. The transaction was successfully completed on 14th June 2018.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,750,000
- Seller: Vincent Maimone
- Buyer: Giuseppe Malatesta
- Seller's Representative: Luca DiCiero (Agency: lucadiciero)
- Buyer's Representative: Spiros Nitis (Agency: nyspacefinders)
The seller, Vincent Maimone, was represented by Luca DiCiero from lucadiciero agency. On the other hand, the buyer, Giuseppe Malatesta, was represented by Spiros Nitis from nyspacefinders agency. The involvement of these experienced real estate professionals highlights the expertise and knowledge that contributed to the successful completion of the transaction.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93