Updated Dec 21, 2023
REAL New York LLC Sells Development Site In Staten Island For $750,000
640 Gulf Avenue, Staten Island, New York 10314, United States
$750,000
$39/SF
Building Size
19,000 SF
Asset Type
Development Site
Closing
Jun 14, 2022
About this deal
AI
Located at 640 Gulf Ave. in Staten Island, this development site was recently sold in a closed transaction. The property, represented by Mendel Jacobson of REAL New York LLC, was purchased for $750,000. Spanning across 19,000 square feet, the site offers significant potential for development. With a price per buildable square foot of $39, this transaction presents a promising opportunity.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $750,000
- Address: 640 Gulf Ave.
- Market: Staten Island
- Seller's Representative: Mendel Jacobson - REAL New York LLC
- Buildable Square Footage (BSF): 19,000
- Price per Buildable Square Foot (PPBSF): $39
The sale of this development site was facilitated by Mendel Jacobson, a representative from REAL New York LLC. The transaction closed on 06/15/2022, marking a successful deal in the Staten Island market. With its strategic location and ample buildable square footage, this property presents a promising investment opportunity in the area.
On the Map
$750,000
$39/SF
Development Site
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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
21.15%
Cash-on-Cash
-6.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93