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14348 41st Ave, Queens, NY,...

FCA Acquires Flushing Property At 14348 41st Ave For $14.1M With Seller's Rep Ariel Property Advisors
SOLDMultiFamily

FCA Acquires Flushing Property At 14348 41st Ave For $14.1M With Seller's Rep Ariel Property Advisors

14348 41st Ave, Queens, NY, 11355

$14,100,000

$251/SF

Building Size

56,000 SF

Asset Type

MultiFamily

Closing

Nov 20, 2023

AI

The property asset involved in this transaction is a multifamily building located at 143-48 41st Ave in the Flushing neighborhood of Queens. The building consists of six stories and encompasses a total of 56,000 square feet, offering 53 apartment units. The transaction amount for the sale of this property was $14,100,000.00.

Summary of transaction details:

The deal was facilitated by Ariel Property Advisors, with Victor Sozio, Shimon Shkury, Michael Tortorici, and Jesse Greshin representing the seller. The details of the buyer remain undisclosed in this transaction.

Players

Jesse Greshin

Broker

$268.1M

vol

9 deals

Broker
FCA
FCABuyer

Flushing 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

1.13%

Cash-on-Cash

-0.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93