Polo 2 LLC Acquires 49-Unit Multifamily Building In Queens For $12.6M
144-03 Barclay Ave, Flushing, NY 11355, USA
Building Size
45,500 SF
Asset Type
MultiFamily
Closing
Nov 28, 2020
AI
The multifamily property located at 144-03 Barclay Avenue in Queens, New York, was recently sold for a price of $12,600,000. The property consists of a six-story building with a total of 49 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $12,600,000
- Address: 144-03 Barclay Avenue, Queens, New York
- Market: Queens
- Units: 49 (six-story)
The seller of the property was Heller Realty, represented by Josh Heller. On the other hand, Polo 2 LLC, represented by Adam Pokrzywa, acted as the buyer in this transaction. The seller was represented by Aaron Jungreis of Rosewood Realty, while the buyer was represented by Michael Guttman and Jack Zalta, also of Rosewood Realty.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93