Updated Dec 4, 2024
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
About this deal
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.
On the Map
$7,750,000
Development Site
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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