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34855 Fm 1488

Peter Terpstra Purchases 20 Acre Development Site In Hempstead From Farrah Kennedy With Buyer's Rep Huntley Grichor
SOLDDevelopment Site

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

Huntley Grichor

Red Key Properties

Broker

14 deals

Broker
RP
Red Key PropertiesBrokerage

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