Updated Sep 5, 2024
Simranjeet Singh Acquires Development Site In Jamaica, Queens For $3.4M
95-25 Waltham Street
$3,415,000
Building Size
—
Asset Type
Development Site
Closing
Jan 4, 2023
About this deal
AI
A development site located at 95-25/31 Waltham Street in Jamaica, Queens, has been sold for a price of $3,415,000. The property spans a total of 40,090 square feet, resulting in a price per square foot of $85. The transaction took place on January 4, 2023. The property was sold with approved plans and is eligible for the Affordable NY program.
Summary of transaction details
- Property Type: Dev Site
- Transaction Amount: $3,415,000
The buyer of the property is Simranjeet Singh, while Jay Lau is the seller. The brokers involved in the deal were Stephen R. Preuss Sr., Kevin Louie, Kevin Schmitz, and Andreas Efthymiou from Ripco.
On the Map
$3,415,000
Development Site
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Players
Jamaica Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.65%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93