Hooshang Nemat Acquires Development Site In Woodside, Queens For $1.85M
SOLD
$1,850,000
+ 1
New York
See Similar DealsDevelopment Site10,930 SF
Sold 03/11/2020
SOLD
Hooshang Nemat Acquires Development Site In Woodside, Queens For $1.85M
70-01 Queens Blvd, Queens, NY 11377, USA
See Similar DealsDevelopment Site10,930 SF
Sold 03/11/2020
+ 1
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$169
Total Square Footage:10,930 SF
Transaction Type:Sale
A development site located at 70-01 Queens Blvd in Woodside, Queens, has been sold for a price of $1,850,000. The property has a building square footage (BSF) of 10,930 and a price per building square footage (PPBSF) of $170.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,850,000
- BSF: 10,930
- PPBSF: $170
The seller of the development site is Steven Li, while the buyer is Hooshang Nemat. The deal was facilitated by brokers Stephen R. Preuss, Kevin Louie, and Rani Bendary of TeamPreuss.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$98,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,572.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,769.94
Annual Debt Service$105,239.33
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