Updated Oct 29, 2024
Chris Xu Acquires Dev. Site In Elmhurst From Dimitrios Kaloidis For $14.3M
86-55 Queens Blvd, Elmhurst, NY 11373, USA
$14,300,000
$273/SF
Building Size
52,371 SF
Asset Type
Development Site
Closing
Nov 28, 2020
About this deal
AI
A development site located at 86-55 Queens Blvd in Elmhurst, New York has been sold for a price of $14,300,000. The property is currently a one-story commercial building with a total square footage of 52,371. The buyer of the property is Chris Xu from United Construction and Development Group. Dimitrios Kaloidis is the seller of the property.
Summary of transaction details
- Property Type: Development Site (Currently one story commercial)
- Transaction Amount: $14,300,000
- Address: 86-55 Queens Blvd
- City: New York
- Market: Elmhurst
- Potential Buildable Square Feet (BSF): 52,371 sf
- Price per Buildable Square Foot (PPBSF): $273
Michael Mazzara and Stephen Palmese from Cushman and Wakefield served as the brokers in this transaction.
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
1.11%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93