Chen Wu Acquires Development Site In Astoria For $2.1M With Broker Alexandre Goulet
SOLD
$2,100,000
New York
See Similar DealsDevelopment Site2,485 SF
Sold
SOLD
Chen Wu Acquires Development Site In Astoria For $2.1M With Broker Alexandre Goulet
32 02 31st Avenue
See Similar DealsDevelopment Site2,485 SF
Sold
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$845
Total Square Footage:2485 SF
Transaction Type:Sale
The property asset involved in this transaction is a development site located at 32-02 31st Avenue in Astoria. The sale price for this asset was $2,100,000, with a building square footage (BSF) of 7,401 and a price per building square foot (PPBSF) of $283. The property also has a square footage of 2,485 and a price per square foot (PPSF) of $845.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,100,000
- Buyer: Chen Wu
- Seller: Werner Wex
- Broker: Alexandre Goulet - Landair Property Advisors
The key individuals in this deal include Chen Wu as the buyer, who acquired the property from Werner Wex, the seller. The transaction was facilitated by broker Alexandre Goulet, representing Landair Property Advisors.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$112,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86
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