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Steven Kordvani Acquires Multifamily Property In Briarwood, Queens For $6.65M

Property Image
SOLD
$6,650,000
Thomas (Tom) Donovan

New York

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MultiFamily26,380 SF
Sold 03/21/2022
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Property Image
SOLD

Steven Kordvani Acquires Multifamily Property In Briarwood, Queens For $6.65M

141 85th Road, Queens, New York 11435, United States

See Similar Deals
MultiFamily26,380 SF
Sold 03/21/2022
Thomas (Tom) Donovan
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$252
Total Square Footage:26,380 SF
Transaction Type:Sale

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

Thomas (Tom) Donovan
51 deals$730.7M volume(646) 502-3481
BROKER

Bradley (Brad) Rutkin
B6 Real Estate Advisors
1 deal$6.7M volume(646) 933-2656
BROKER

Details

SOLD
IMAGE: Brad Rutkin, Thomas Donovan & Steven Kordvani DATE: 03/21/2022 ADDRESS: 141-13, 15, 21 & 23 85th Rd. MARKET: Briarwood, Queens ASSET TYPE: Multifamily BUYER: Steven Kordvani (@ParkviewNy) SELLER: Karim Moallemi BROKERS: Brad Rutkin (@BradRutkin) (@TheBradRutkin) & Thomas Donovan (@TeamDonovan) - B6 Real Estate Advisors (@B6RealEstate) SALE PRICE: $6,650,000 UNITS: 32 ~ PPU: $207,812 SF: 26,380 ~ PPSF: $252

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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