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30 01 Northern Boulevard

Waldman Family Purchases Development Site From Matthew Schwartz For $4.8 Million In East Elmhurst
SOLDDevelopment Site

Waldman Family Purchases Development Site From Matthew Schwartz For $4.8 Million In East Elmhurst

30 01 Northern Boulevard

$4,800,000

$521/SF

Building Size

9,200 SF

Asset Type

Development Site

Closing

Feb 27, 2025

AI

The asset involved in this transaction is a development site located at 30-01 Northern Boulevard in East Elmhurst. The sale price is set at $4,800,000, with a building square footage of 24,000 and a price per building square foot of $200. The site itself has a total square footage of 9,200, resulting in a price per square foot of $521.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $4,800,000
  • Address: 30-01 Northern Boulevard
  • Market: East Elmhurst
  • Building Square Footage: 24,000
  • Price per Building Square Foot: $200
  • Total Square Footage: 9,200
  • Price per Square Foot: $521
  • Buyer: Waldman Family
  • Seller: Matthew Schwartz
  • Broker: Joe Brikman - Brooklyn Blocks Real Estate

The key individuals involved in the transaction include the buyer, Waldman Family, and the seller, Matthew Schwartz. Joe Brikman, from Brooklyn Blocks Real Estate, represents the buyer in this deal, facilitating the transaction process.

Players

Joe Brikman

Brooklyn Blocks Real Estate

Broker

$22.5M

vol

7 deals

Broker
Matthew Schwartz

Matthew Schwartz

Seller

$802.5M

vol

8 deals

Seller

Long Island City 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

3.30%

Cash-on-Cash

-0.94%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93