Steven Kordvani Acquires Multifamily Property In Briarwood, Queens For $6.65M
141 85th Road, Queens, New York 11435, United States
$6,650,000
$252/SF
Building Size
26,380 SF
Asset Type
MultiFamily
Closing
Mar 20, 2022
AI
The multifamily property located at 141-13, 15, 21, and 23 85th Rd. in Briarwood, Queens has been sold for a total price of $6,650,000. The transaction took place on 03/21/2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $6,650,000
- Units: 32
- Price per Unit (PPU): $207,812
- Square Feet (SF): 26,380
- Price per Square Foot (PPSF): $252
- Market: Briarwood, Queens
Steven Kordvani was the buyer in this transaction, while Karim Moallemi served as the seller. The deal was facilitated by Brad Rutkin and Thomas Donovan of B6 Real Estate Advisors, who represented the buyer and seller, respectively.
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
2.39%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93