Thomas Gammino & Thomas Donovan Of B6 Real Estate Advisors Secure $1.825M Sale Of Multifamily Property In Hunters Point, LIC

An eight-unit multifamily property located at 10-11 50th Avenue in the Hunters Point neighborhood of Long Island City has been sold for a price of $1,825,000. This property has a building square footage (BSF) of 4,200, resulting in a price per BSF (PPBSF) of $434. With a total square footage (SF) of 5,523, the price per SF (PPSF) amounts to $330. The property consists of 8 units, leading to a price per unit (PPU) of $228,125. The lot size is 2,100 square feet, with dimensions of 21 ft x 100 ft. The zoning of the property is M1-4/R6B. The sale was facilitated by Thomas Gammino and Thomas Donovan, brokers from B6 Real Estate Advisors.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,825,000
• Building Square Footage (BSF): 4,200
• Price per BSF (PPBSF): $434
• Total Square Footage (SF): 5,523
• Price per SF (PPSF): $330
• Number of Units: 8
• Price per Unit (PPU): $228,125
• Lot Size: 2,100 square feet
• Lot Dimension: 21 ft x 100 ft
• Zoning: M1-4/R6B

The property transaction at 10-11 50th Avenue was brokered by Thomas Gammino and Thomas Donovan of B6 Real Estate Advisors. The deal involved the sale of the eight-unit multifamily property with a sale price of $1,825,000. The property has a FAR of 2.63 and falls under tax class 2B. The permits in place include an Alteration 3 permit dated October 4, 2010.