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Long Island City Property Sold For $15.2M With Seller's Representatives Ashley Grebow Jeshiva And Evan Daniel

Property Image
SOLD
$15,200,000
Ashley Grebow Jeshiva
Evan Daniel

New York

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Retail20,000 SF
Sold 04/02/2019
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Property Image
SOLD

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

See Similar Deals
Retail20,000 SF
Sold 04/02/2019
Ashley Grebow Jeshiva
Evan Daniel
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$760
Total Square Footage:20,000 SF
Transaction Type:Sale

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

Ashley Grebow Jeshiva
Regal Ventures
Ashley Grebow Jeshiva
4 deals$27.3M volume(718) 451-8822
BROKER
Evan Daniel
Modern Spaces
Evan Daniel
65 deals$347.5M volume(516) 508-8189
BROKER

Details

SOLD
IMAGE: 3940 30th St, New York, NY, 11101 MARKET: Long Island City SELLER'S REP: Ashley Grebow Jeshiva(Modern Spaces), Evan Daniel(Modern Spaces) BUYER: Unknown SELLER: PRICE: $15,200,000.00 SF: 20000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$810,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$54,002.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$72,055.75
Annual Debt Service$864,669.06