Updated Dec 21, 2023
Ahmed Nayem Acquires OZ Dev Site In Downtown Jamaica, Queens For $950K
95-28 147th Pl, Jamaica, NY 11435, USA
$950,000
$10/SF
Building Size
93,750 SF
Asset Type
Development Site
Closing
Oct 10, 2019
About this deal
AI
A development site located at 95-28 147th Place in Downtown Jamaica, Queens has been sold for a price of $950,000. The property is classified as an Opportunity Zone (OZ) development site and has a buildable square footage (BSF) of 9,375. The price per buildable square footage (PPBSF) stands at $101. The transaction took place on 10/11/2019.
Summary of transaction details
- Property Type: OZ Dev Site
- Sale Price: $950,000
- BSF: 9,375
- PPBSF: $101
- Market: Downtown Jamaica, Queens
The sellers of the property were Yuri Matat and Slavik Shimonov. On the other hand, the buyer was Ahmed Nayem. Acting as brokers in the deal were Stephen R. Preuss and Kevin Schmitz.
On the Map
$950,000
$10/SF
Development Site
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Players
Queens 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
16.70%
Cash-on-Cash
-4.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93