Ralph Cafiero Sells Development Site At 92-15 Astoria Boulevard For $1M With Gerlando Graci As Buyer's Rep
92 15 Astoria Boulevard
$1,000,000
$356/SF
Building Size
2,808 SF
Asset Type
Development Site
Closing
Sep 7, 2025
AI
A development site located at 92-15 Astoria Boulevard in the East Elmhurst market has been sold for $1,000,000. The property spans 2,808 square feet, resulting in a price per square foot of $356.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,000,000
- Address: 92-15 Astoria Boulevard
- Market: East Elmhurst
- Seller: Ralph Cafiero
- Buyer's Representative: Gerlando Graci - Alexiou Realty
This transaction was represented by Gerlando Graci, who successfully facilitated the purchase of the development site. Graci expressed enthusiasm about the project’s potential and is open to connections for those interested in development opportunities.
Players
East Elmhurst 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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93