Updated Dec 21, 2023
Noam Azachi Acquires Multifamily Property In Ridgewood, Queens For $950,000
1875 Gates Avenue, Ridgewood, NY 11385
$950,000
$448/SF
Building Size
2,120 SF
Asset Type
MultiFamily
Closing
Sep 13, 2020
About this deal
AI
The property involved in this transaction is a multifamily property located at 1875 Gates Ave. in Ridgewood, Queens. It has a zoning classification of R5B and a total square footage of 2,120. The property was sold on 09/14/2020 by Li Wei Guang to the buyer Noam Azachi, at a price of $950,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $950,000
- Address: 1875 Gates Ave.
- Market: Ridgewood, Queens
- Zoning: R5B
Daniel Barcelowsky from VRGrealty represented the seller Li Wei Guang in this transaction.
The property has a buildable square footage (BSF) of 2,700, resulting in a price per BSF of $351. The price per square foot (PPSF) is $488. The property's tax class is 1 and it sits on a lot size of 2,000.
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
16.70%
Cash-on-Cash
-4.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93