Updated Dec 21, 2023
Stephen R. Preuss Acquires 18-Unit Multifamily Property In Whitestone, Queens For $6M
150-31 12th Avenue, Whitestone, Queens County, NY, USA
$6,000,000
$388/SF
Building Size
15,458 SF
Asset Type
MultiFamily
Closing
Oct 21, 2021
About this deal
AI
The multifamily property located at 150-31 12th Avenue in Whitestone, Queens has been sold in a closed transaction. The property consists of 18 units with a total square footage of 15,458. The sale price for this transaction was $6,000,000, resulting in a price per unit of $333,333 and a price per square foot of $388.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,000,000
- Address: 150-31 12th Avenue
- Market: Whitestone, Queens
- Seller: Gary Constantopes
- Seller's Representative: Stephen R. Preuss SR
- Units: 18
- Price per Unit: $333,333
- Square Footage: 15,458
- Price per Square Foot: $388
The sale of this multifamily property was facilitated by Stephen R. Preuss SR, who represented the seller, Gary Constantopes, in the transaction.
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
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93