Updated Dec 21, 2023
Manoucher Malekan Acquires Development Site On Woodhaven Blvd In Central Queens For $3.5M From Seller Rudy Migli And Broker Stephen R. Preuss
60-66 Woodhaven Blvd, Elmhurst, NY 11373, USA
$3,500,000
$233/SF
Building Size
15,000 SF
Asset Type
Development Site
Closing
Mar 23, 2020
About this deal
AI
An undeveloped property located at 6066 Woodhaven Blvd in Central Queens has been sold for a total of $3,500,000. The property is classified as a development site and spans approximately 15,000 square feet. The price per buildable square foot (PPBSF) is calculated at $233.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,500,000
- Address: 6066 Woodhaven Blvd
- Market: Central Queens
- Seller: Rudy Migli
- Buyer: Manoucher Malekan
- Broker: Stephen R. Preuss @TeamPreuss
Stephen R. Preuss from TeamPreuss represented both the buyer, Manoucher Malekan, and the seller, Rudy Migli, in this transaction.
Players
New York 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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93