Updated Dec 21, 2023
Ulisses Vargas Acquires Glendale Multifamily Property From Belinda Teo For $900K
64 03 Cooper Ave, Flushing, Ny 11385, Usa
$900,000
$272/SF
Building Size
3,300 SF
Asset Type
MultiFamily
Closing
Mar 10, 2020
About this deal
AI
A multifamily property located at 6403 Cooper Avenue in Glendale, Queens, recently closed in a transaction. The property spans 3,300 square feet and was sold for a sale price of $900,000. The seller of the property was Belinda Teo, while the buyer was Ulisses Vargas. The asset was listed with an asking price of $950,000, resulting in a selling price $50,000 below the initial ask. The price per square foot for this transaction was $272.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $900,000
- Address: 6403 Cooper Avenue, Glendale, Queens
- Square Footage: 3,300
- Market: Glendale, Queens
The transaction was facilitated by two brokers. Nelson Olaya represented the seller, Belinda Teo, and was affiliated with Douglas Elliman. Joe Cruz, from Compass, represented the buyer, Ulisses Vargas. Both brokers played a crucial role in ensuring the successful closing of the deal.
Players
Glendale MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
17.63%
Cash-on-Cash
-5.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93