Ahdoot Family Acquires Development Site In Arverne, Queens For $526K
SOLD
$526,000
New York
See Similar DealsDevelopment Site9,000 SF
Sold 03/31/2021
SOLD
Ahdoot Family Acquires Development Site In Arverne, Queens For $526K
7212 Burchell Avenue, Arverne, NY 11692
See Similar DealsDevelopment Site9,000 SF
Sold 03/31/2021
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$58
Total Square Footage:9,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$28,053.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,868.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,493.51
Annual Debt Service$29,922.10
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