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111-17 Northern Blvd, Flush...

Carmelle Bellefleur Acquires Multifamily Property In Corona, Queens For $4.88M
SOLDMultiFamily

Carmelle Bellefleur Acquires Multifamily Property In Corona, Queens For $4.88M

111-17 Northern Blvd, Flushing, NY 11369, USA

$4,875,000

$151/SF

Building Size

32,184 SF

Asset Type

MultiFamily

Closing

Mar 26, 2020

AI

The multifamily property located at 111-17 Northern Blvd in Corona, Queens has been sold for a total price of $4,875,000. The property spans a total area of 32,184 square feet, resulting in a price per square foot of $149. The property consists of 38 units, with a price per unit of $125,921.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $4,875,000
  • Square Footage: 32,184
  • Price per Square Foot: $149
  • Number of Units: 38
  • Price per Unit: $125,921

The seller of this property is Dhiren Mehta, and the buyer is Carmelle Bellefleur. The transaction was facilitated by brokers Stephen R. Preuss and Kevin Louie from @TeamPreuss @CushWake, along with Amit Doshi from @Meridian.Capital.Group @TeamDoshi.

Players

Kevin Louie

Ripco

Broker

$1.1B

vol

129 deals

Broker

Carmelle Bellefleur

Buyer

$14.2M

vol

3 deals

Buyer

Dhiren Mehta

Seller

$18.9M

vol

5 deals

Seller

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.25%

Cash-on-Cash

-0.93%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93