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963 Wyckoff Ave, Ridgewood,...

ABCNY Development Corp. Acquires Development Site In Ridgewood For $3M
SOLDDevelopment Site

ABCNY Development Corp. Acquires Development Site In Ridgewood For $3M

963 Wyckoff Ave, Ridgewood, NY 11385, USA

Building Size

255,380 SF

Asset Type

Development Site

Closing

Jun 4, 2018

AI

The development site located at 963-969 Wyckoff Avenue in Ridgewood, Queens has been sold for $3,000,000. Spanning a total area of 25,538 square feet, the property was purchased by ABCNY Development Corp., with Sue Beharry representing the buyer. The seller, The Romero Family, entrusted the transaction to the brokerage firm @highcap_group, specifically brokers Josh Goldflam and Jeff Weiss.

Summary of Transaction Details

  • Property Type: Development Site
  • Transaction Amount: $3,000,000
  • Square Footage: 25,538
  • Address: 963-969 Wyckoff Avenue
  • Market: Ridgewood, Queens

This transaction involved ABCNY Development Corp. as the buyer, represented by Sue Beharry. On the other side, The Romero Family acted as the seller, while Josh Goldflam and Jeff Weiss from @highcap_group provided brokerage services for the deal. The successful sale of this development site can be attributed to the expertise and efforts of these key individuals and companies.

Players

Josh Goldflam

Highcap Group

Broker

$278.1M

vol

29 deals

Broker

New York 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93