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Ron Frieden Acquires Multifamily Property On Putnam Avenue In Ridgewood, Queens For $1.2M

Property Image
SOLD
$1,200,000
Sean Mashihi
Tom Reynolds
Steve Reynolds
+ 4

New York

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MultiFamily5,600 SF
Sold 02/22/2022
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Property Image
SOLD

Ron Frieden Acquires Multifamily Property On Putnam Avenue In Ridgewood, Queens For $1.2M

1825 Putnam Avenue, Queens, New York 11385, United States

See Similar Deals
MultiFamily5,600 SF
Sold 02/22/2022
Sean Mashihi
Tom Reynolds
Steve Reynolds
+ 4
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$214
Total Square Footage:5,600 SF
Transaction Type:Sale

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

Brian Davila
Investment Property Realty Group (IPRG)
Brian Davila
108 deals$283.4M volume(718) 360-8849
BROKER
Derek Bestreich
Investment Property Realty Group (IPRG)
Derek Bestreich
312 deals$1.1B volume(718) 360-8802
BROKER
Justin Zeitchik
Investment Property Realty Group (IPRG)
Justin Zeitchik
50 deals$254.9M volume(718) 360-8827
BROKER
Tom Reynolds
Investment Property Realty Group (IPRG)
Tom Reynolds
98 deals$292.3M volume(718) 360-8817
BROKER
Steve Reynolds
Investment Property Realty Group (IPRG)
Steve Reynolds
133 deals$364.4M volume(718) 360-8807
BROKER
Sean Mashihi
Block Real Estate Group
Sean Mashihi
46 deals$123.2M volume(917) 999-6616
BROKER
RF
Ron Frieden
2 deals$3.1M volume
BUYER

Details

SOLD
IMAGE: Steve Reynolds & Justin Zeitchik DATE: 02/22/2022 ADDRESS: 1825 Putnam Avenue MARKET: Ridgewood, Queens ASSET TYPE: Multifamily BUYER: Ron Frieden SELLER: Nancy DiCarmine BROKERS: Derek Bestreich, Steve Reynolds (@SJRey09), Tom Reynolds, Brian Davila, Sean Mashihi & Justin Zeitchik - Bestreich Realty Group (BRG) (@BRG_CRE) SALE PRICE: $1,200,000 UNITS: 6 ~ PPU: $200,000 SF: 5,600 ~ PPSF: $214 NOTE FROM @BRG_CRE: 2 units were delivered vacant on the ground floor

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$64,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,263.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,688.61
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