SOLDDevelopment Site
Ahdoot Family Acquires Development Site In Arverne, Queens For $526K
7212 Burchell Avenue, Arverne, NY 11692
$526,000
$58/SF
Building Size
9,000 SF
Asset Type
Development Site
Closing
Mar 30, 2021
AI
The development site located at 72-12 Burchell Ave in Arverne, Queens has been sold. The transaction took place on March 31, 2021. The buyer of the property is the Ahdoot Family.
Summary of Transaction Details:
- Property Type: Development Site
- Sale Price: $526,000
- Building Square Footage (BSF): 9,000
- Price Per Building Square Foot (PPBSF): $58
- Market: Arverne, Queens
The sale of the property was facilitated by Eric Delafraz from @RealtyCapitalNY. He represented the Ahdoot Family in the transaction.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
30.16%
Cash-on-Cash
-8.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93