Updated Dec 4, 2024
W & C Plaza LLC Acquires 7-Unit Multifamily In Corona, Queens For $3.3M
108-42 Roosevelt Avenue
$3,292,407
$485/SF
Building Size
6,786 SF
Asset Type
MultiFamily
Closing
Nov 3, 2023
About this deal
AI
Anrou Chen and Jinke Wang, operating through the entity W & C Plaza LLC, have acquired a seven-unit residential walkup building located at 108-42 Roosevelt Avenue in Corona, Queens. The property was sold for a total amount of $3,292,407, resulting in an average price per unit of $470,343. The building spans across 6,786 square feet, with an average price per square foot of $485.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,292,407
- Address: 108-42 Roosevelt Avenue
- Market: Corona, Queens
- Buyer: Anrou Chen & Jinke Wang
- Seller: John Po Sheng Hsu
- Units: 7
- Price per Unit: $470,343
- Square Footage: 6,786
- Price per Square Foot: $485
Anrou Chen and Jinke Wang, represented by their broker W & C Plaza LLC, successfully completed the acquisition of the seven-unit residential walkup building at 108-42 Roosevelt Avenue in Corona, Queens. The transaction showcases their commitment to expanding their real estate portfolio in the area.
Players
Corona MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.82%
Cash-on-Cash
-1.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93