Meridian Capital Group Represents Sale Of 24-Unit Multifamily Property In Queens Village For $3.8M

The property involved in this transaction is a multifamily asset located at 219-46 93rd Avenue in the Queens Village market. The property was sold for $3,800,000 and consists of 24 units, resulting in a price per unit of $158,333. The total square footage of the asset is 23,040, translating to a price per square foot of $164. The investment property has been immaculately maintained, with $2M spent on capital expenditures and apartment upgrades, and boasts a cap rate of 6.3% and a gross rent multiplier of 9x.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,800,000
• Units: 24
• Price Per Unit: $158,333
• Total Square Footage: 23,040
• Price Per Square Foot: $164
• Cap Rate: 6.3%
• Gross Rent Multiplier: 9x
• Brokers: Luke Rizzo, Shallini Mehra & Amit Doshi - Meridian Capital Group

The individuals involved in this transaction include brokers Luke Rizzo, Shallini Mehra, and Amit Doshi, who represented the parties in the deal. Their expertise from Meridian Capital Group facilitated the successful closing of this multifamily property investment.