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Surjeet Kaur Acquires Development Site On 78-06 Queens Boulevard In Elmhurst, Queens For $6.2M
SOLD
$6,200,000
New York
See Similar DealsDevelopment Site
Sold 06/15/2023
SOLD
Surjeet Kaur Acquires Development Site On 78-06 Queens Boulevard In Elmhurst, Queens For $6.2M
78-06 Queens Boulevard Queens, New York 11373, USA
See Similar DealsDevelopment Site
Sold 06/15/2023
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
Surjeet Kaur has acquired a development building located at 78-06 Queens Boulevard in Elmhurst, Queens. The property, identified as a development site, was sold for a total of $6,200,000. Spanning a square footage of 49,336, the building offers a price per square foot (PPSF) of $126. The transaction took place on June 15, 2023.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $6,200,000
- Address: 78-06 Queens Boulevard
- Market: Elmhurst, Queens
The seller of the property, Yan Po Zhu, was represented by Triple East Queens Tower LLC. Surjeet Kaur secured the deal through their buyer's representative.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$330,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,027.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,391.16
Annual Debt Service$352,693.96
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