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Westhab Acquires Development Site In Rego Park, Queens For $13.2M

Property Image
SOLD
$13,200,000

New York

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Development Site42,277 SF
Sold 08/03/2022
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Property Image
SOLD

Westhab Acquires Development Site In Rego Park, Queens For $13.2M

92-54 Queens Boulevard, Queens, New York 11375, United States

See Similar Deals
Development Site42,277 SF
Sold 08/03/2022
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$312
Total Square Footage:42,277 SF
Transaction Type:Sale

A $13,200,000 development site in Rego Park, Queens, located at 92-54 Queens Boulevard, has been sold. The sale took place on 08/03/2022 and the buyer was Westhab represented by Richard Nightingale. The seller of the property was Slate Property Group. The development site has a buildable square footage of 42,277 and a price per buildable square foot of $311.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $13,200,000
  • Address: 92-54 Queens Boulevard
  • Market: Rego Park, Queens
  • Buyer: Westhab - Richard Nightingale
  • Seller: Slate Property Group
  • Buildable Square Footage: 42,277
  • Price Per Buildable Square Foot: $311

Richard Nightingale, representing Westhab, facilitated the transaction as the buyer's representative. This deal highlights the strong demand for development sites in Rego Park, Queens, and the potential for future growth in the area.

Players

RN
Richard Nightingale
2 deals$86.1M volume
BUYER
Slate Property Group
Slate Property Group
SELLER
Slate Property Group
Slate Property Group
LENDER

Details

SOLD
IMAGE: Richard Nightingale DATE: 08/03/2022 ADDRESS: 92-54 Queens Boulevard MARKET: Rego Park, Queens ASSET TYPE: Development Site BUYER: Westhab - Richard Nightingale SELLER: Slate Property Group (@SlatePropertyGroup) SALE PRICE: $13,200,000 BSF: 42,277 ~ PPBSF: $311

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$46,896.82
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