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
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