Robert Favata Acquires Apartment Building In Richmond Hill For $4M

Located at 102-05 86th Avenue in Richmond Hill, Queens, this apartment building was recently sold in a transaction that took place on June 22, 2022. The property, which has a total square footage of 15,392, features a total of 4,912 buildable square feet. The buyer, Robert Favata, acquired the property from the seller, George Todorovich, for a price of $4,000,000. The price per buildable square foot was calculated at $814, while the price per total square foot amounted to $259. The property sits on a lot with a size of 6,550 square feet and has dimensions measuring 50 feet by 125.08 feet. The zoning classification for the property is R4 and R4A, with a floor area ratio (FAR) of 2.35. The property falls under tax class 2 and has a permit for alteration issued on July 2, 2009.

Summary of transaction details:

• Property Type: Apartment
• Transaction Amount: $4,000,000
• Saleable Area: 4,912 sq ft
• Price per Buildable Square Foot: $814
• Total Square Footage: 15,392 sq ft
• Price per Square Foot: $259
• Lot Size: 6,550 sq ft
• Permit: Alteration 2 (07/02/2009)
• Lot Dimensions: 50 ft x 125.08 ft

Robert Favata represented himself as the buyer in this transaction, while George Todorovich represented himself as the seller. The deal was completed without the involvement of any brokers.