Michael Kontorouhas Acquires Multifamily Property In Astoria, NY For $2.2M
20-22 Steinway Street, Astoria, NY, 11105, USA
$2,225,000
$349/SF
Building Size
6,375 SF
Asset Type
MultiFamily
Closing
Jun 17, 2018
AI
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.
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
7.13%
Cash-on-Cash
-2.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93