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108-42 Roosevelt Avenue

Updated Dec 4, 2024

W & C Plaza LLC Acquires 7-Unit Multifamily In Corona, Queens For $3.3M
SOLDMultiFamily

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

John Po Sheng Hsu

Seller

$35.3M

vol

10 deals

Seller

Corona MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $485 per square foot on a published $3.3M for 6,786 square feet (2023).

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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

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