Jason M. Gold & Gabriel Elyaszadeh Represent Sale Of Development Site For $7.75M
60 Beach Channel Drive & 14 Beach Channel Drive
$7,750,000
Building Size
—
Asset Type
Development Site
Closing
Apr 8, 2024
AI
The development site located at 60-14 Beach Channel Drive in Far Rockaway was sold for $7,750,000. The property spans 74,519 square feet, resulting in a price per buildable square foot of $104.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $7,750,000
- Address: 60-14 Beach Channel Drive
- Market: Far Rockaway
- Brokers: Jason M. Gold & Gabriel Elyaszadeh - Ariel Property Advisors
Jason M. Gold and Gabriel Elyaszadeh from Ariel Property Advisors represented the parties involved in this transaction, showcasing their expertise in facilitating this deal.
Players
Far Rockaway Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.05%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93