Updated Oct 25, 2024
Sanjeet Singh Acquires Multifamily Property In Richmond Hill, Queens For $2.3M
119-02 97th Avenue, Queens, Jamaica, NY, USA
$2,300,000
$141/SF
Building Size
16,294 SF
Asset Type
MultiFamily
Closing
Jun 18, 2020
About this deal
AI
A multifamily property located at 119-02 97th Avenue in Richmond Hill, Queens, was recently sold for a total of $2,300,000. The property consists of 18 units and has a total square footage of 16,294. The sale price per square foot was $141, and the price per unit was $127,777.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,300,000
- Address: 119-02 97th Avenue, Richmond Hill, Queens
- Market: Richmond Hill, Queens
- Buyer: Sanjeet Singh
- Seller: Marc Beige
- Brokers: Shaun Riney, Dylan Walsh, and Billy Stephan - New York Multifamily and Marcus & Millichap NY
The buyers were represented by Shaun Riney, Dylan Walsh, and Billy Stephan from New York Multifamily and Marcus & Millichap NY. The transaction was completed on June 18, 2021.
Players
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
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93