Updated Oct 28, 2024
Fuo Gei Acquires Woodside Development Site For $5.9M
70-20 Queens Boulevard, Queens, New York 11377, United States
$5,900,000
$98/SF
Building Size
59,750 SF
Asset Type
Development Site
Closing
Jun 7, 2022
About this deal
AI
The development site located at 70-20 Queens Boulevard & 46-07 70th Street in Woodside has been sold for $5,900,000. The transaction took place on 06/08/2022 and was facilitated by Ripco Real Estate. The property spans across 59,750 square feet, with a price per buildable square foot (PPBSF) of $98.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,900,000
- Square Footage: 59,750
- Price per Buildable Square Foot (PPBSF): $98
- Market: Woodside
The buyer of the property is Fuo Gei, while the seller is The Estate of Gaspar Accardi. The deal was represented by Andreas Efthymiou, Stephen R. Preuss Sr., Kevin Louie, and Kevin Schmitz from Ripco Real Estate.
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
2.69%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93