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ZD Jasper Realty Acquires Development Site From Ben Chetrit In Woodside For $18.63M

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SOLD
$18,626,000
Andreas Efthymiou
Adam Hakim
+ 1

New York

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ZD Jasper Realty Acquires Development Site From Ben Chetrit In Woodside For $18.63M

64 11 Queens Boulevard

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Development Site
Sold
Andreas Efthymiou
Adam Hakim
+ 1
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Summary

NEW YORK
Asset Type:Development Site
Transaction Type:Sale

The asset involved in this transaction is a development site located at 64-11 Queens Boulevard in the Woodside market. The property was sold for a total of $18,626,000, with a building square footage (BSF) of 119,000 and a price per building square foot (PPBSF) of $156.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $18,626,000
  • Address: 64-11 Queens Boulevard
  • Market: Woodside
  • Building Square Footage: 119,000
  • Price per Building Square Foot: $156
  • Buyer: ZD Jasper Realty
  • Seller: Ben Chetrit
  • Broker Representatives: Andreas Efthymiou, Stephen R. Preuss Sr., James Murad & Adam Hakim - Ripco

This transaction involved key individuals including buyer ZD Jasper Realty and seller Ben Chetrit. The deal was brokered by a team from Ripco consisting of Andreas Efthymiou, Stephen R. Preuss Sr., James Murad, and Adam Hakim, who collaborated effectively across sectors to facilitate both the sale and debt placement for the mixed-use development site.

Players

James Murad
62 deals$2.9B volume(646) 290-2012
BROKER

Andreas Efthymiou
Ripco
128 deals$1.1B volume
BROKER

Stephen R. Preuss Sr.
Ripco
258 deals$2B volume(718) 663-2639
BROKER

Adam Hakim
Ripco
60 deals$2.9B volume(646) 290-2011
BROKER

Ripco
BROKERAGE

Details

SOLD
IMAGE: Stephen R. Preuss Sr., Andreas Efthymiou, James Murad & Adam Hakim DATE: 8/25/2025 ADDRESS: 64-11 Queens Boulevard MARKET: Woodside ASSET TYPE: Development Site BUYER: ZD Jasper Realty SELLER: Ben Chetrit BROKERS: Andreas Efthymiou (@Andreas.E_Investment_Sales), Stephen R. Preuss Sr. (@RipcoInvestmentSales), James Murad (@James_Murad) & Adam Hakim - Ripco (@RipcoRealEstate) SALE PRICE: $18,626,000 BSF: 119,000 ~ PPBSF: $156 NOTE FROM BROKER: This transaction underscores the strength of RIPCO’s platform, as our Investment Sales and Capital Markets teams worked seamlessly together to facilitate both the sale and debt placement for a 119,000 SF mixed-use development site in Woodside, Queens. Contact the team for more information on this transaction or upcoming deals.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$993,386.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$66,174.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$88,296.74
Annual Debt Service$1,059,560.91