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
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