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

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SOLD
$2,750,000

New York

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Development Site29,184 SF
Sold 07/29/2020
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Property Image
SOLD

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

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

See Similar Deals
Development Site29,184 SF
Sold 07/29/2020
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$94
Total Square Footage:29,184 SF
Transaction Type:Sale

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 (Alex) Goulet
44 deals$161.2M volume
BROKER

Anand Melwani
Landair Advisors
41 deals$168.7M volume(516) 658-1222
BROKER

Arm Real Estate Group
BROKERAGE

Details

SOLD
IMAGE: Alexandre Goulet DATE: 07/29/2021 ADDRESS: 89-10 150th Street MARKET: Jamaica ASSET TYPE: Development Site BUYER: Sai Jing Chen SELLER: Maharani Pokhai BROKER: Alexandre Goulet (@LandairPropertyAdvisors) & Anand Melwani (@ARMRealEstateNYC) ASKING PRICE: $2,850,000 SALE PRICE: $2,750,000 BSF: 29,184 ~ PPBSF: $94 NOTE FROM @LandairPropertyAdvisors: Founded in 2020, Landair Property Advisors focuses exclusively on the sale of development sites in NYC. Through specialized focus, we are uniquely positioned to provide optimal value for our client's land & air rights. If you are looking to buy or sell a development site, please reach out to discuss: šŸ“± (646) 559-4700 | šŸ“§ [email protected]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$146,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,770.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,036.40
Annual Debt Service$156,436.84