Michael Broxmeyer Acquires Multifamily Property In Bayside/Queens For $6.2M
19102 35th Avenue, Bayside, Queens County, NY, USA
$6,175,000
$358/SF
Building Size
17,213 SF
Asset Type
MultiFamily
Closing
Mar 12, 2019
AI
Located at 191-02 35th Ave in Bayside/Queens, this multifamily property was recently sold in a closed transaction. The property spans 17,213 square feet and was sold for a price of $6,175,000, resulting in a price per square foot of $358.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,175,000
- Market: Bayside/Queens
- Seller: The DiNoto Group
- Buyer: Michael Broxmeyer - Fairfield Properties
- Brokers: Daniel Abbondandolo, Dimitri Mastrogiannis
- Date: 03/13/2019
The DiNoto Group acted as the seller in this transaction, while Michael Broxmeyer of Fairfield Properties represented the buyer. The deal was facilitated by brokers Daniel Abbondandolo and Dimitri Mastrogiannis, who played a crucial role in bringing both parties together.
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
2.57%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93