Vaja Group Acquires Land From Blachman Family In Jamaica For $5.475M
88-22 Sutphin Boulevard
$5,475,000
$93/SF
Building Size
58,392 SF
Asset Type
Land
Closing
Aug 20, 2026
About this deal
AI
The property asset involves land located at 88-22 Sutphin Boulevard in Jamaica. The land was sold for a total price of $5,475,000, encompassing an area of 58,392 square feet, which translates to a price per square foot of $93. The transaction was facilitated for residential development with over 58,000 buildable square feet as of right.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $5,475,000
- Square Footage: 58,392
- Address: 88-22 Sutphin Boulevard
- Market: Jamaica
- Buyer: Vaja Group
- Seller: Blachman Family
- Broker Representatives: Josh Goldflam & Hiroki Tsutsumi - Highcap Group
Josh Goldflam and Hiroki Tsutsumi acted as the broker representatives in this transaction, representing the buyer, Vaja Group, and the seller, Blachman Family. The parking lot was sold specifically for its potential use in residential development, indicating an opportunity for future construction and expansion in the area.
Players
Jamaica Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.90%
Cash-on-Cash
-0.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93