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19102 35th Avenue, Bayside,...

Michael Broxmeyer Acquires Multifamily Property In Bayside/Queens For $6.2M
SOLDMultiFamily

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

Dimitri Mastrogiannis

Broker

$47.9M

vol

6 deals

Broker

Michael Broxmeyer

Fairfield Properties

Buyer

$182.3M

vol

4 deals

Buyer

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