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32 02 31st Avenue

Chen Wu Acquires Development Site In Astoria For $2.1M With Broker Alexandre Goulet
SOLDDevelopment Site

Chen Wu Acquires Development Site In Astoria For $2.1M With Broker Alexandre Goulet

32 02 31st Avenue

$2,100,000

$845/SF

Building Size

2,485 SF

Asset Type

Development Site

Closing

Nov 13, 2025

AI

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:

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.

Players

Alexandre Goulet

Landair Advisors

Broker

$163.2M

vol

45 deals

Broker
Landair Advisors
Landair AdvisorsBrokerage

Astoria 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

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93