Jason M. Gold & Gabriel Elyaszadeh Represent Sale Of Development Site For $7.75M
SOLD
$7,750,000
New York
See Similar DealsDevelopment Site
Sold 04/08/2024
SOLD
Jason M. Gold & Gabriel Elyaszadeh Represent Sale Of Development Site For $7.75M
60 Beach Channel Drive & 14 Beach Channel Drive
See Similar DealsDevelopment Site
Sold 04/08/2024
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$413,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,534.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,738.95
Annual Debt Service$440,867.45
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