Steven Kordvani Acquires Apartment In Briarwood, Queens For $3.3M
SOLD
$3,325,000
New York
See Similar DealsMultiFamily26,400 SF
Sold 03/21/2022
SOLD
Steven Kordvani Acquires Apartment In Briarwood, Queens For $3.3M
21 85th Road, Queens, New York 11421, United States
See Similar DealsMultiFamily26,400 SF
Sold 03/21/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$125
Total Square Footage:26,400 SF
Transaction Type:Sale
The property asset involved in this closed transaction is an apartment located at 141-21 85th Road in the Briarwood neighborhood of Queens. The property sits on zoning R6A and spans a total square footage of 26,400. The sale took place on March 21, 2022.
Summary of transaction details:
- Property Type: Apartment
- Transaction Amount: $3,325,000
- Price per Square Foot: $125
- Buyer: Steven Kordvani
- Seller: Mohamad Karim Moallemi
The buyer in this transaction is Steven Kordvani while the seller is Mohamad Karim Moallemi. The property was sold for a total price of $3,325,000, with a price per square foot of $125.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$177,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,813.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,762.20
Annual Debt Service$189,146.36
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