Updated Oct 28, 2024
39th Ave Equity LLC Acquires Multifamily Property In Long Island City For $28.6M
32-03 39th Avenue, Queens, New York 11101, United States
$28,625,000
$217/SF
Building Size
131,535 SF
Asset Type
Development Site
Closing
Jun 19, 2022
About this deal
AI
The multifamily property at 32-03 & 31-17 39th Ave. in Long Island City has been sold for a price of $28,625,000. The property spans a total of 99,996 square feet, resulting in a price per square foot of $286.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $28,625,000
- Market: Long Island City
The buyer of the property is 39th Ave. Equity LLC. The seller consists of two entities, AHRC New York City and Denham Wolf Real Estate Services - Christopher Turner representing the latter. Christopher Turner acted as the representative for Denham Wolf Real Estate Services in the deal.
On the Map
$28,625,000
$217/SF
Development Site
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93