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108-60 Roosevelt Avenue

Updated Dec 4, 2024

Xiao Guo Huang's Da Vinci 60 LLC Acquires MultiFamily Property In Corona, Queens For $3.4M
SOLDMultiFamily

Xiao Guo Huang's Da Vinci 60 LLC Acquires MultiFamily Property In Corona, Queens For $3.4M

108-60 Roosevelt Avenue

$3,397,748

$502/SF

Building Size

6,758 SF

Asset Type

MultiFamily

Closing

Oct 31, 2023

About this deal

AI

Xiao Guo Huang, through Da Vinci 60 LLC, has purchased a seven-unit residential walkup building located at 108-60 Roosevelt Avenue in Corona, Queens. The property was sold by John Po Sheng Hsu's entity, 111 Roosevelt Development LLC, for a total of $3.4 million. The multi-family building spans across 6,758 square feet, with each unit having an average price per unit of $485,392. The price per square foot for the entire property is $503.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $3,397,748
  • Address: 108-60 Roosevelt Avenue, Corona, Queens
  • Market: Corona, Queens
  • Buyer: Xiao Guo Huang (Represented by Da Vinci 60 LLC)
  • Seller: John Po Sheng Hsu (Represented by 111 Roosevelt Development LLC)
  • Units: 7
  • Price Per Unit: $485,392
  • Square Footage: 6,758
  • Price Per Square Foot: $503

This transaction represents the acquisition of the residential property by Xiao Guo Huang through Da Vinci 60 LLC from John Po Sheng Hsu's entity, 111 Roosevelt Development LLC. These key individuals and companies played a significant role in the completion of the deal, contributing to the transfer of ownership for this multi-family building in Corona, Queens.

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 $502 per square foot on a published $3.4M for 6,758 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.67%

Cash-on-Cash

-1.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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