Long Island City Property Sold For $15.2M With Seller's Representatives Ashley Grebow Jeshiva And Evan Daniel
3940 30th St, New York, NY, 11101
$15,200,000
$760/SF
Building Size
20,000 SF
Asset Type
Retail
Closing
Apr 2, 2019
AI
A development site located at 3940 30th St, New York, NY, in the Long Island City market has been sold for $15,200,000. The property encompasses 20,000 square feet and is poised for further development, potentially allowing for up to 70,835 buildable square feet.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $15,200,000
- Address: 3940 30th St, New York, NY, 11101
- Market: Long Island City
- Seller: Gary Gopalani
- Buyer: Joseph Stern of SB Development
- Seller's Representatives: Ashley Grebow Jeshiva, Evan Daniel (Modern Spaces)
- Square Footage: 20,000
This transaction represents a notable deal in the commercial real estate sector, with Gary Gopalani, a local investor, selling the property. The buyer, Joseph Stern, is affiliated with SB Development. The representatives from Modern Spaces, Ashley Grebow Jeshiva and Evan Daniel, facilitated this sale on behalf of the seller.
Players
Long Island City Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.04%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93