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Bell Realty Acquires 20-Unit Residential Walkup Building In South Ozone Park, Queens For $3.2M

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SOLD
$3,200,000

New York

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MultiFamily19,600 SF
Sold 08/23/2023
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SOLD

Bell Realty Acquires 20-Unit Residential Walkup Building In South Ozone Park, Queens For $3.2M

101 21 Rockaway Blvd Jamaica, Ny 11417, Usa

See Similar Deals
MultiFamily19,600 SF
Sold 08/23/2023
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$163
Total Square Footage:19,600 SF
Transaction Type:Sale

A 20-unit residential walkup building located at 101-21 Rockaway Boulevard in South Ozone Park, Queens, has been sold for $3.2 million. The property, spanning 19,600 square feet, was purchased by Bell Realty, represented by Eric Belanich. The sellers, Maria Falco and Michael Falco, agreed to the transaction.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,200,000
  • Square Footage: 19,600
  • Price per Square Foot: $163
  • Address: 101-21 Rockaway Boulevard, South Ozone Park, Queens
  • Buyer: Bell Realty - Eric Belanich
  • Seller: Maria Falco & Michael Falco

Eric Belanich's Bell Realty successfully acquired the 20-unit residential walkup building at 101-21 Rockaway Boulevard in South Ozone Park, Queens. The transaction, with a total sale price of $3.2 million, marks the transfer of ownership from sellers Maria Falco and Michael Falco to Eric Belanich's Bell Realty. This acquisition further strengthens Bell Realty's presence in the South Ozone Park market.

Players

2 deals$6.4M volume
BUYER

Details

SOLD
IMAGE: Eric Belanich DATE: 08/23/2023 ADDRESS: 101-21 Rockaway Boulevard MARKET: South Ozone Park, Queens ASSET TYPE: Multifamily BUYER: Bell Realty - Eric Belanich (@EricBelanich) SELLER: Maria Falco & Michael Falco SALE PRICE: $3,200,000 SF: 19,600 ~ PPSF: $163 NOTE: Eric Belanich's Bell Realty acquired a 20-unit residential walkup building at 101-21 Rockaway Boulevard in South Ozone Park, Queens, from Maria Falco and Michael Falco for $3.2 million.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,368.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.63
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