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Spiro & John Gatanas Purchase 16-Unit MultiFamily In Astoria For $2.67M

Property Image
SOLD
$2,675,000

New York

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MultiFamily4,008 SF
Sold 03/01/2024
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Property Image
SOLD

Spiro & John Gatanas Purchase 16-Unit MultiFamily In Astoria For $2.67M

21-42 28th Street

See Similar Deals
MultiFamily4,008 SF
Sold 03/01/2024
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$667
Total Square Footage:4,008 SF
Transaction Type:Sale

The multi-family property located at 21-42 28th Street in Astoria, Queens, was sold for $2,675,000. The property consists of 16 units with a price per unit of $167,188. The total square footage of the property is 4,008, with a price per square foot of $667.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $2,675,000
  • Units: 16
  • Price Per Unit: $167,188
  • Square Footage: 4,008
  • Price Per Square Foot: $667
  • Address: 21-42 28th Street, Astoria, Queens
  • Market: Astoria, Queens

The buyer of the property was Spiro Gatanas & John Gatanas, while the seller was Anna Yavaldakis. Representing the buyer was Kelly Gatanas from Douglas Elliman. The seller was represented by Anthony Lo Verme from Blue Brick Real Estate.

Players

Anthony Lo Verme
6 deals$20.6M volume
BROKER

Kelly Gatanas
Douglas Elliman
1 deal$2.7M volume(917) 757-0002
BROKER

Details

SOLD
IMAGE: Anthony Lo Verme & Kelly Gatanas DATE: 03/01/2024 ADDRESS: 21-42 28th Street MARKET: Astoria, Queens ASSET TYPE: MultiFamily BUYER: Spiro Gatanas & John Gatanas SELLER: Anna Yavaldakis BUYER'S REP: Kelly Gatanas (@Kelly_Gatanas_Realtor) - Douglas Elliman (@DouglasElliman) SELLER'S REP: Anthony Lo Verme (@Anthony_Lo_Verme_) - Blue Brick Real Estate (@BlueBrickRealEstate) SALE PRICE: $2,675,000 UNITS: 16 ~ PPU: $167,188 SF: 4,008 ~ PPSF: $667

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$142,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,503.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,680.86
Annual Debt Service$152,170.38