Updated Dec 20, 2023
Dennis Druzhinsky Acquires Development Site In Rego Park For $3.6M
64 Wetherole Street, Queens, New York 11374, United States
$3,600,000
$201/SF
Building Size
17,829 SF
Asset Type
Development Site
Closing
May 11, 2022
About this deal
AI
A development site located at 64-08 Wetherole St. in Rego Park has been sold for a price of $3,600,000. The property covers a total square footage of 17,829 and has a price per square foot of $201. The sale took place on 05/12/2022.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,600,000
- Address: 64-08 Wetherole St., Rego Park
- Market: Rego Park
- BSF: 17,829
- PPBSF: $201
The buyer of the property is Dennis Druzhinsky, while the seller is Erwin Tomitz. The deal was facilitated by brokers Matt Fotis and Lazarus Apostolidis, who work for Marcus & Millichap.
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
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93