Updated Dec 21, 2023
Robert Cheung Acquires Multifamily Property In Corona, Queens For $3.36M
55 Roosevelt Avenue, Queens, New York 11368, United States
$3,356,438
$548/SF
Building Size
6,124 SF
Asset Type
MultiFamily
Closing
Jul 31, 2022
About this deal
AI
The multifamily property located at 108-55 Roosevelt Avenue in Corona, Queens has been sold. The transaction took place on August 1, 2022. The property has a lot size of 2,916 square feet with dimensions of 23.4 ft x 125 ft. It falls under tax class 2B and has a floor area ratio (FAR) of 2.10.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,356,438
- Building Square Footage: 5,832
- Price per Square Foot: $575
- Lot Size: 2,916 square feet
- Lot Dimension: 23.4 ft x 125 ft
The buyer of the property is Robert Cheung, while John Po Sheng Hsu is the seller. The sale price for the property is $3,356,438. The building has a total square footage of 6,124, resulting in a price per square foot of $548.
New York 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
4.73%
Cash-on-Cash
-1.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93