Halvatzis Family Sells Development Site In Astoria For $2.15M With Brokers Donal Flaherty Tom Reynolds & Karan Khanna
SOLD
New York
See Similar DealsDevelopment Site1,235 SF
Sold 11/03/2025
SOLD
Halvatzis Family Sells Development Site In Astoria For $2.15M With Brokers Donal Flaherty Tom Reynolds & Karan Khanna
24 62 32nd Street
See Similar DealsDevelopment Site1,235 SF
Sold 11/03/2025
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$1,740
Total Square Footage:1,235 SF
Transaction Type:Sale
The development site located at 24-62 32nd Street in Astoria has been sold for $2,150,000. It comprises a building size factor (BSF) of 7,410 and is priced at approximately $290 per BSF. The total square footage (SF) is 1,235, with a price per square foot (PPSF) of $1,740.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,150,000
- Address: 24-62 32nd Street
- Market: Astoria
- BSF: 7,410
- PPBSF: $290
- SF: 1,235
- PPSF: $1,740
- Seller: Halvatzis Family
- Broker Representatives: Donal Flaherty, Tom Reynolds & Karan Khanna - Investment Property Realty Group
This transaction is part of the Neptune Diner Assemblage, which allows for a total buildable area exceeding 67,000 SF with a combined purchase price of $12,650,000.
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30 years
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$114,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,638.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,192.10
Annual Debt Service$122,305.16
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