Papagiannakis Family Sells Mixed-use Property At 25-32 Steinway Street Astoria For $2.55M
25 32 Steinway Street
$2,550,000
$245/SF
Building Size
10,368 SF
Asset Type
Mixed-use
Closing
Mar 4, 2025
AI
The property located at 25-32 Steinway Street in the Astoria market is a mixed-use asset that encompasses 10,368 square feet. The property was sold by the Papagiannakis Family for a price of $2,550,000, resulting in a price per square foot of $245.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,550,000
- Address: 25-32 Steinway Street
- Market: Astoria
- Square Footage: 10,368
- Price per Square Foot: $245
- Seller: Papagiannakis Family
- Broker Representatives: Matt Fotis, Lazarus Apostolidis & Hunter Barocas - Marcus & Millichap
The transaction involved the collaboration of brokers Matt Fotis, Lazarus Apostolidis, and Hunter Barocas, all representing the seller, the Papagiannakis Family, through Marcus & Millichap.
Players
Astoria Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.22%
Cash-on-Cash
-1.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93