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20 Wyoming Ave, Long Beach,...

Andrew Zambratto & Corey Gluckstal Acquire Multifamily Property For $4M In Long Island
SOLDMultiFamily

Andrew Zambratto & Corey Gluckstal Acquire Multifamily Property For $4M In Long Island

20 Wyoming Ave, Long Beach, NY 11561, USA

$4,000,000

$381/SF

Building Size

10,500 SF

Asset Type

MultiFamily

Closing

Apr 11, 2021

AI

Located at 20 Wyoming Ave. in the Long Island market, a multifamily property has been sold for a price of $4,000,000. The property spans a total of 10,500 square feet, resulting in a price per square foot of $380. The sale took place on April 12, 2021, and the asset was initially listed for $3,800,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $4,000,000
  • Address: 20 Wyoming Ave.
  • Market: Long Island
  • Bought by: Andrew Zambratto & Corey Gluckstal
  • Sold by: Nina Platzer
  • Brokers: Saiid Boukhalfa & Jesse Limon from Marcus & Millichap NY
  • Square Footage: 10,500
  • Price per Square Foot: $380

The buyers, Andrew Zambratto and Corey Gluckstal, acquired the property from the seller, Nina Platzer. The brokers involved in the transaction were Saiid Boukhalfa and Jesse Limon from Marcus & Millichap NY.

Players

Said Boukhalfa

Marcus & Millichap

Broker

$84.4M

vol

7 deals

Broker
Andrew Zambratto

Andrew Zambratto

Peconic Equities

Buyer

$27.8M

vol

5 deals

Buyer
PE
Peconic EquitiesBuyer

Long Beach 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

3.97%

Cash-on-Cash

-1.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93