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89-10 150th Street, Jamaica...

Updated Sep 9, 2024

Sai Jing Chen Acquires Development Site In Jamaica From Maharani Pokhai For $2.75M
SOLDDevelopment Site

Sai Jing Chen Acquires Development Site In Jamaica From Maharani Pokhai For $2.75M

89-10 150th Street, Jamaica, NY 11435, USA

$2,750,000

$94/SF

Building Size

29,184 SF

Asset Type

Development Site

Closing

Jul 29, 2020

About this deal

AI

A development site located at 89-10 150th Street in Jamaica, NYC has been sold. The transaction took place on 07/29/2021 and was facilitated by Alexandre Goulet and Anand Melwani from Landair Property Advisors. The buyer, Sai Jing Chen, purchased the property from Maharani Pokhai for a sale price of $2,750,000. The site has a building square footage (BSF) of 29,184 and a price per BSF (PPBSF) of $94. It is situated in the Jamaica market.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $2,750,000
  • Address: 89-10 150th Street, Jamaica
  • Market: Jamaica
  • BSF: 29,184
  • PPBSF: $94

It's worth mentioning that Landair Property Advisors, founded in 2020, specializes in the sale of development sites in NYC. They offer their expertise in land and air rights transactions, ensuring optimal value for their clients. If you are interested in buying or selling a development site, you can contact them at (646) 559-4700 or via email at [email protected].

Players

Alexandre Goulet

Landair Advisors

Broker

$165.6M

vol

46 deals

Broker
Arm Real Estate Group
Arm Real Estate GroupBrokerage

New York Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Deal FAQ

About $94 per square foot on a published $2.8M for 29,184 square feet (2020).

Visit Alexandre (Alex) Goulet to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.77%

Cash-on-Cash

-1.65%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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