Updated Dec 20, 2023
Ron Frieden Acquires Multifamily Property On Putnam Avenue In Ridgewood, Queens For $1.2M
1825 Putnam Avenue, Queens, New York 11385, United States
$1,200,000
$214/SF
Building Size
5,600 SF
Asset Type
MultiFamily
Closing
Feb 21, 2022
About this deal
AI
A multifamily property located at 1825 Putnam Avenue in Ridgewood, Queens has been sold for $1,200,000. The property consists of 6 units and spans across 5,600 square feet. The price per unit (PPU) was approximately $200,000, while the price per square foot (PPSF) was approximately $214. The transaction took place on 02/22/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,200,000
- Address: 1825 Putnam Avenue
- Market: Ridgewood, Queens
The buyer for this transaction was Ron Frieden, while the seller was Nancy DiCarmine. The deal was facilitated by Derek Bestreich, Steve Reynolds, Tom Reynolds, Brian Davila, Sean Mashihi, and Justin Zeitchik from Bestreich Realty Group (BRG). Additionally, it is worth noting that 2 units on the ground floor were delivered vacant.
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
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93