FCA Acquires Flushing Property At 14348 41st Ave For $14.1M With Seller's Rep Ariel Property Advisors
SOLD
$14,100,000
+ 1
New York
See Similar DealsMultiFamily56,000 SF
SOLD
FCA Acquires Flushing Property At 14348 41st Ave For $14.1M With Seller's Rep Ariel Property Advisors
14348 41st Ave, Queens, NY, 11355
See Similar DealsMultiFamily56,000 SF
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$251
Total Square Footage:56,000 SF
Transaction Type:Sale
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:
- Property Type: Multifamily Building
- Transaction Amount: $14,100,000.00
- Address: 14348 41st Ave, Queens, NY, 11355
- Market: Flushing
- Buyer: FCA
- Seller's Representatives: Victor Sozio, Shimon Shkury, Michael Tortorici, and Jesse Greshin - Ariel Property Advisors
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
BUYER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$751,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$50,094.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$66,841.19
Annual Debt Service$802,094.32
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