Peter Terpstra Purchases 20 Acre Development Site In Hempstead From Farrah Kennedy With Buyer's Rep Huntley Grichor
34855 Fm 1488
Building Size
871,200 SF
Asset Type
Development Site
Closing
Sep 16, 2025
AI
The property involved in this transaction is a development site located at 34855 Fm 1488 in the Hempstead market, encompassing an area of 20 acres.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: Not disclosed
- Buyer: Peter Terpstra
- Seller: Farrah Kennedy
- Buyer's Representative: Huntley Grichor - Red Key Properties
This transaction was facilitated by Huntley Grichor, who represented the buyer, Peter Terpstra, in the negotiation process. The seller of the property was Farrah Kennedy, completing the deal on the specified date.
Players
Hempstead 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93