Maninder Sethi Acquires Development Site In New York City For $14.12M
SOLD
$14,120,000
New York
See Similar DealsDevelopment Site11,529 SF
Sold 02/02/2023
SOLD
Maninder Sethi Acquires Development Site In New York City For $14.12M
25-16 37th Avenue
See Similar DealsDevelopment Site11,529 SF
Sold 02/02/2023
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$1,224
Total Square Footage:11,529 SF
Transaction Type:Sale
A development site located at 25-16 37th Avenue in New York City has been sold in a closed transaction. The property is a development site, and it was sold for a total price of $14,120,000. The site has a total square footage of 11,529, resulting in a price per square foot of $1,225.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $14,120,000
- Address: 25-16 37th Avenue
- Market: New York City
Maninder Sethi is the buyer of the property. The transaction was facilitated by Greg Corbin and Felix Ades, who represent Rosewood Realty Group. They served as the brokers in the deal, helping to facilitate the successful transaction.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$753,066.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$50,165.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$66,936.00
Annual Debt Service$803,232.04
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