Updated Sep 16, 2026
Shloimy Jacob Acquires Development Site In Astoria From Robert Lumaj For $3.2M
8-48 Astoria Boulevard
$3,200,000
$1,311/SF
Building Size
2,440 SF
Asset Type
Development Site
Closing
Sep 7, 2026
About this deal
AI
This development site located at 8-48 Astoria Boulevard in the Astoria market was sold for $3,200,000. The property encompasses a buildable square footage (BSF) of 16,329 and a total square footage (SF) of 2,440, resulting in a price per BSF of $195 and a price per SF of $1,311.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $3,200,000
- Buyer: Shloimy Jacob
- Seller: Robert Lumaj
- Broker: Alexandre Goulet - Landair Advisors
- BSF: 16,329
- PPBSF: $195
- SF: 2,440
- PPSF: $1,311
Alexandre Goulet from Landair Advisors represents the seller in this transaction. This sale marks the second transaction of this development site by Landair Advisors in 2026. The property was initially acquired through a bankruptcy auction earlier in February and has since been resold through a conventional sale, showcasing Landair's capability to connect with the appropriate buyer for various types of transactions.
On the Map
$3,200,000
$1,311/SF
Development Site
View full map
Players
Astoria Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Visit Alexandre (Alex) Goulet to view all their deals.
Browse New York development site sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93