Jack Soleimani Acquires Multifamily Property In Forest Hills For $6.2M
SOLD
$6,205,000
New York
See Similar DealsMultiFamily15,000 SF
Sold 01/17/2019
SOLD
Jack Soleimani Acquires Multifamily Property In Forest Hills For $6.2M
108 13th Avenue, Brooklyn, NY, USA
See Similar DealsMultiFamily15,000 SF
Sold 01/17/2019
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$413
Total Square Footage:15,000 SF
Transaction Type:Sale
An multifamily property located at 108-22 72 Ave in Forest Hills has been sold. The property spans 15,000 square feet and was sold for a price of $6,205,000. The price per square foot comes out to be $414 and the capitalization rate is 3.7%.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $6,205,000
- Address: 108-22 72 Ave
- Market: Forest Hills
- Square Footage: 15,000
- Price Per Square Foot: $414
- Capitalization Rate: 3.7%
The seller of the property was Robert Luo and the buyer was Jack Soleimani. The transaction was facilitated by brokers Alex Steinberg and Alon Ashoory of Proper Foundations LLC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$330,933.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,045.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,414.87
Annual Debt Service$352,978.39
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