Michael Kontorouhas Acquires Multifamily Property In Astoria, NY For $2.2M
SOLD
$2,225,000
New York
See Similar DealsMultiFamily6,375 SF
Sold 06/18/2018
SOLD
Michael Kontorouhas Acquires Multifamily Property In Astoria, NY For $2.2M
20-22 Steinway Street, Astoria, NY, 11105, USA
See Similar DealsMultiFamily6,375 SF
Sold 06/18/2018
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$349
Total Square Footage:6,375 SF
Transaction Type:Sale
The multifamily property located at 20-22 Steinway Street in the Astoria neighborhood of New York has been sold. The transaction took place on June 18, 2018, with a selling price of $2,225,000. The property spans a total of 6,375 square feet, with a price per square foot of $349.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,225,000
- Date: 06/18/2018
- Address: 20-22 Steinway Street
- City: New York
- Market: Astoria
- Seller: Theodore Karagiannis
- Buyer: Michael Kontorouhas
- Broker: Steve Lelekidis - Modern Spaces NYC
- Square Footage: 6,375 sf
- Price Per Square Foot: $349
Theodore Karagiannis sold the property to Michael Kontorouhas, with the assistance of broker Steve Lelekidis from Modern Spaces NYC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$118,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,904.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,547.64
Annual Debt Service$126,571.62
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